Do Kwon is in US custody after extradition battle
Montenegrin authorities extradited Terraform Labs co-founder Do Kwon to the United States after a prolonged legal battle. Prime Minister Milojko Spajić confirmed Kwon's transfer to US custody, indicating he would face criminal charges. The extradition followed Justice Minister Bojan Božović's approval, rejecting a South Korean petition for Kwon, who faces charges there as well. Kwon is implicated in the 2022 collapse of the Terra ecosystem, which contributed to a significant downturn in the crypto market. After being arrested in Montenegro in 2023 for using falsified documents, Kwon spent four months in prison and faced delays in extradition due to repeated appeals by his legal team. The US Justice Department charged him with eight felony counts, including fraud and conspiracy. In a separate civil case, Kwon and Terraform Labs were found liable for fraud and agreed to pay approximately $4.5 billion in penalties.
