Montenegro Court Upholds Extradition of Do Kwon

Montenegro's Appellate Court has upheld the extradition of Do Kwon, co-founder of Terraform Labs, to South Korea, rejecting a request for his extradition to the United States. The court's decision marks a significant conclusion to a lengthy legal battle over Kwon's fate, which had seen multiple rulings in various Montenegrin courts. Kwon faces serious fraud charges related to the collapse of TerraUSD and Luna, which resulted in nearly $40 billion in losses for investors. He was arrested in Montenegro in March 2023 while attempting to flee using counterfeit documents. The court's ruling is legally binding, and extradition is anticipated to be facilitated by Interpol, although a specific timeline remains unclear. This case reflects increasing scrutiny of cryptocurrencies and their founders, as regulators intensify efforts to hold individuals accountable for financial misconduct.