This morning, the coin community received shocking news when the Montenegro Ministry of Justice ordered the extradition of Do Kwon, co-founder of Terraform Labs, to the United States. This information was reported by Reuters on December 27, 2024. Do Kwon, a South Korean citizen, was the CEO of Terraform Labs, the famous company behind the stablecoin TerraUSD - the coin collapsed in May 2022, shaking the global crypto market.
Do Kwon was arrested in March 2023 while attempting to leave Montenegro. After a period of investigation and meeting all legal conditions, the Supreme Court of Montenegro decided to grant the extradition request from the United States, prioritizing international legal criteria. Montenegro's Minister of Justice, Bojan Bozovic, signed the decree to enforce this decision, sending Kwon to the United States to face charges.
The collapse of TerraUSD has caused significant damage to the altcoin market and has shaken many investors. The extradition of Do Kwon is expected to clarify the ongoing issues surrounding this case, contributing to strengthening the community's trust in the transparency and security of the coin market.
This source from Reuters emphasizes the important role of the international legal system in addressing issues related to the rapidly developing crypto sector. Investors and the related community are closely monitoring the developments in the Do Kwon case, hoping that this event will create a stronger legal foundation for the future of crypto.