According to Bloomberg, on December 31, Prime Minister of Montenegro Milojko Spajic stated on Tuesday that Montenegro has completed the procedures for extraditing Terraform Labs co-founder Do Kwon to the United States. Spajic posted on the X platform: 'This extradition demonstrates our unwavering commitment to international justice and the rule of law.'
Do Kwon is facing lawsuits in New York and Seoul due to the collapse of the TerraUSD stablecoin, valued at $40 billion in 2022. Last year, he was arrested in Montenegro for traveling with a forged passport. In April this year, after a civil trial regarding charges from the U.S. Securities and Exchange Commission (SEC), Terraform and its founder Do Kwon were found guilty of fraud. Terraform has agreed to pay $4.5 billion to settle with the SEC.