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And the End of an Era: Terra (LUNA) Founder Do Kwon, Escorted by Police, Left Montenegro
Montenegro extradicts Terraform Labs co-founder Do Kwon to the US with the help of Interpol. The extradition process was confirmed today based on a statement from the Montenegrin Ministry of Justice, reported by local news outlet Vijesti.
The ministry said, “Today, South Korean citizen Kwon Do-Hyung, who was sought by two countries, South Korea and the United States, was extradited at the Podgorica Airport border crossing with the support of a special police unit by NCB Interpol Podgorica officials.”
Terraform Labs' former CEO Kwon, following the decision of the Montenegro Ministry of Justice, was handed over to the US law enforcement and FBI agents. This move indicates the outcome of months-long legal processes in Montenegro, where Kwon faced competing extradition requests from the US and South Korea.
Do Kwon will face numerous charges in the United States, including securities fraud, money laundering, and conspiracy to commit electronic fraud. These allegations are related to the role of the algorithmic stablecoin TerraUSD and LUNA in wiping out billions of dollars in investor funds.
The extradition took place after Montenegro's Minister of Justice Bojan Božović received approval from the Montenegrin Constitutional Court on Friday and signed the decision to extradite Kwon to the United States.
In September, the Montenegrin Constitutional Court ruled that it would be the Justice Minister who would decide on the final decision regarding the extradition of Kwon. According to the Ministry, the weight of the charges, the location of the crimes, the order of extradition requests, and the potential for further extradition were effective in the decision to send Kwon to the USA.