Business

Disgraced crypto tycoon Do Kwon to be extradited to US

December 27, 2024

Montenegrin Justice Minister Bojan Bozovic has ordered the extradition of Terraform Labs co-founder Do Kwon, also wanted by South Korea, to the United States, the ministry said Friday.

A South Korean national, Kwon is the former CEO of South Korea-based Terraform Labs, the company behind the stablecoin TrraUSD that collapsed in May 2022, roiling cryptocurrency markets.

Terraform Labs founder Do Kwon will be extradited to the US. AP

He was arrested in March 2023 while attempting to leave Montenegro.

After the Supreme Court determined that all legal conditions were fulfilled to extradite Do Kwon, the justice ministry concluded that most legal criteria favored the US request so Bozovic signed a decree to send him to the United States, the ministry said in a statement.

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Wesley Scott

Wesley Scott is a seasoned business journalist with a knack for breaking down complex financial matters and corporate trends. With a background that includes seven years working on Wall Street, Wesley brings insider knowledge to his reporting, offering readers both depth and clarity. His articles cover a wide range of topics, from market trends and corporate leadership changes to business ethics and the impact of global events on industries. Known for his ability to identify emerging patterns in the business world, Wesley’s writing serves as a reliable resource for professionals and curious readers alike. Whether covering shifts in consumer behavior or unraveling the dynamics of corporate mergers, Wesley's work ensures his audience stays ahead of the curve.