Montenegro Plans to Extradite Do Kwon to the US
The founder of Terra (LUNA), Do Kwon, may be extradited to the United States by Montenegro. The Wall Street Journal reports that Montenegro’s Justice Minister, Andrej Milovic, has privately expressed his intention to send Kwon to the US instead of South Korea, where he is also wanted for prosecution. Kwon was arrested in Montenegro in March for trying to travel to the United Arab Emirates with a fake Costa Rican passport. While he was sentenced to four months in prison, both the US and South Korea are seeking his extradition on fraud charges related to the collapse of the Terra ecosystem in 2022.
Kwon’s Appeal and Potential Sentence
A court in Montenegro approved Kwon’s extradition to both countries last month, but he has appealed this decision. Milovic is expected to announce his choice of extradition destination after the courts rule on Kwon’s appeal. In June, Dan Sunghan, Director of the Financial Crime Investigation Bureau at the Seoul Southern District Prosecution Service, stated that Kwon could face over four decades in prison if convicted.
Hot Take: Montenegro Set to Extradite Terra Founder Do Kwon to US for Fraud Charges
Montenegro’s plan to extradite Do Kwon, founder of Terra (LUNA), to the United States highlights the severity of the fraud charges he faces. This move indicates that authorities are actively pursuing accountability for financial crimes within the crypto industry. As countries collaborate on extradition requests and legal proceedings unfold, it becomes increasingly clear that fraudulent activities will not go unpunished. The outcome of Kwon’s appeal and subsequent trial will likely set an important precedent for future cases involving cryptocurrency fraud.
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