The extradition of Terraform founder Do Kwon to the US has been approved by Montenegro's Minister of Justice, Bojan Božović. This decision comes after both the US and South Korean governments sought custody of Kwon to face charges related to the collapse of the Terra/Luna algorithmic stablecoin system in 2022. Kwon was arrested in Montenegro in March 2023 and sentenced to several months in prison for passport forgery.
He has been fighting extradition to the US for over a year, with various courts in the country ruling in favor of the US or South Korea. The Ministry of Justice considered factors such as the severity of the crimes, the location of execution, and the order of the request before making the decision.
This announcement is the latest development in a series of decisions regarding Kwon's extradition, with the Appellate Court of Montenegro previously ruling that he should be sent to South Korea. The US Securities and Exchange Commission has also settled charges with Tai Mo Shan, a subsidiary of Jump Crypto, alleging that the company sold LUNA as a security, resulting in a $123 million payment as part of the settlement.