Montenegro agrees to extradite Do Kwan, founder of Luna project, to the United States
The Minister of Justice of Montenegro announced the approval of the extradition of Do Kwan, founder of Terraform Labs, to the United States based on an official request and a comprehensive legal study.
The decision came after assessing the seriousness of the crimes and the scope of jurisdiction, where the criteria favored the American request, while the South Korean request was rejected.
Kwan was arrested in March 2023 while trying to leave Montenegro with a forged passport, and spent four months in prison on forgery charges.
The extradition comes as part of the investigations into the collapse of TerraUSD and Luna in May 2022, which caused losses of $40 billion and caused major repercussions in the cryptocurrency industry.
US authorities accuse Kwan of misleading investors and hiding large assets.
Kwan is currently in a foreign refuge awaiting the implementation of extradition arrangements.
