In a significant development, the Montenegro court has prolonged the custody of Terra Luna founder Do Kwon by two months, paving the way for potential extradition to either South Korea or the United States. Kwon, also known as Kwon Do-hyung, is the founder of Terraform and has been on the run since the dramatic collapse of his company, which wiped out approximately $40 billion of investors’ funds.
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Terra Luna Founder Do Kwon Extradition Key Points:
- Extradition Extension: The Higher Court in Podgorica, Montenegro, announced the extension of Do Kwon’s extradition custody by two months. This move follows his arrest in March for using a fake passport in the country.
- Global Extradition Requests: Both South Korea and the United States are seeking Kwon’s extradition, implicating him in fraud related to the collapse of Terraform. The court had previously stated in late November that Kwon would be extradited pending a decision by the Montenegro Justice Minister, Andrej Milovic.
- Political Extradition Controversy: Justice Minister Milovic, while refraining from disclosing the destination country, characterized the extradition as “political.” The secrecy surrounding the decision has fueled intrigue, with Kwon becoming a focal point in Montenegro’s divisive political landscape.
- This ongoing saga adds a layer of complexity to the already turbulent world of cryptocurrency, as legal proceedings unfold, and Kwon’s fate remains entangled in the geopolitical dynamics between Montenegro, South Korea, and the United States.
