Co-founder of Terraform Labs, Do Kwon, is expected to be extradited to the United States to face criminal charges.
Do Kwon was arrested in Montenegro in March and was sentenced to four months in prison for the use of forged travel documents.
The Minister of Justice of Montenegro, Andrej Milovic, plans to announce the extradition ‘in due course’.
Extradition planned for Do Kwon to the United States
According to a report on December 7th from the Wall Street Journal, Do Kwon, the co-founder of Terraform Labs, is set to be extradited to the United States instead of South Korea. This decision comes in response to a request for extradition by US authorities. Do Kwon is facing charges related to the collapse of Terraform Labs, both in the United States and South Korea.
Do Kwon was arrested in Montenegro in March of this year and was convicted for using forged travel documents. Aside from this case, Do Kwon primarily faces serious charges in the United States and South Korea for his alleged role in the fall of Terraform Labs, a key player in the cryptocurrency industry.
Official announcement expected
The Minister of Justice of Montenegro, Andrej Milovic, has stated that the official announcement of Do Kwon’s extradition will be publicly made ‘in due course’. This decision marks a significant turning point in the Terraform Labs case, attracting international attention to the legal and regulatory implications in the cryptocurrency field.
