Do Kwon is Extradited to US 

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Montenegrin authorities have transferred Terraform Labs co-founder Do Kwon to US law enforcement after a protracted legal battle over his extradition.

In a Dec. 31 post on X, Montenegrin Prime Minister Milojko Spajić confirmed that Kwon was now in US custody and would soon be heading to the US to face criminal charges.

The transfer came just four days after Montenegrin Justice Minister Bojan Božović approved Kwon’s extradition to the US, rejecting a request from South Korea, where Kwon also faces charges and holds citizenship.

“Our nation supports innovation and legitimate crypto, AI, and other tech entrepreneurs, but we have zero tolerance for fraud,” said Spajić. “This extradition demonstrates our steadfast commitment to international justice and the rule of law.”

Kwon is accused of playing a key role in the 2022 collapse of the Terra ecosystem, which contributed to a major downturn in the crypto market that year. Both US and South Korean authorities filed charges against Kwon and other Terraform executives, but his whereabouts remained unknown until his arrest in Montenegro in 2023.

After serving four months in prison for using false travel documents, Kwon spent over a year in legal limbo as Montenegrin courts debated whether to extradite him to the US or South Korea. Each time a decision appeared imminent, Kwon’s legal team filed appeals on various grounds, further delaying his extradition and forcing officials to reconsider their options.