Do Kwon to be extradited to the U.S. to face criminal charges: WSJ Do Kwon to be extradited to the U.S. to face criminal charges: WSJ
Montenegro's justice minister is reportedly leaning toward handing the controversial ex-crypto mogul over to the U.S., though no public statements to that effect have yet been made.
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Updated: Dec. 7, 2023 at 5:30 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Do Kwon, the co-founder and former CEO of Terraform Labs, will reportedly be extradited to the U.S. to face criminal charges, The Wall Street Journal reported on Dec. 7, citing people familiar with the matter.
Last month, CryptoSlate reported that Kwon faced potential extradition to the U.S. or South Korea following the Montenegro High Court’s assessment that the necessary legal conditions for his extradition to either country have been met. Kwon is currently imprisoned in Montenegro for traveling with forged documents.
Kwon had previously consented to be extradited to South Korea; however, the Court decided that Montenegro’s Minister of Justice would decide where he should be sent.
WSJ report claimed that Montenegro’s Justice Minister Andrej Milovic has privately said he plans to send the disgraced crypto founder to the U.S. to answer for his crimes. However, Milovic has not made any public pronouncements about his decision, as Kwon recently moved to appeal his extradition.
Over the past several months, Kwon has been at the center of attention from the U.S. and South Korean authorities, who have both been vying for his extradition from Montenegro. Prosecutors from both countries have charged him with serious allegations of fraud and securities-law violations. These charges are tied to the collapse of the Terra algorithmic TerraUSD (USTC, previously UST) stablecoin and its associated cryptocurrencies last year, which caused significant losses for crypto investors.
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Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems.
TerraUSD
$0.01843
TerraUSD is a native Terra stablecoin pegged to the US Dollar..
Terraform Labs
Terraform Labs is a startup that created Terra, a blockchain protocol and payment platform used for algorithmic stablecoins.
Do Kwon began his professional journey as an engineer, contributing to tech giants Apple and Microsoft.
