Montenegro court approves extradition of ‘cryptocurrency king’ Do Kwon
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The decision will be made after Do Kwon completes serving his prison sentence for document forgery, the court said.
Do Kwon´s lawyer in Podgorica was not immediately available to comment.
A South Korean national, Kwon is the former CEO of South Korea-based Terraform Labs, the company behind the stablecoin TerraUSD that collapsed in May 2022, roiling cryptocurrency markets.
He was detained in late March along with Han Chang-joon, Terraform Labs’ former finance officer, as they tried to board a flight to Dubai from Podgorica.
Following Kwon’s arrest, the US District Court in Manhattan made public an eight-count indictment against him for securities fraud, wire fraud, commodities fraud and conspiracy.
In late May, a Montenegrin court scrapped a bail of €800,000 (US$873,108) for the pair, saying it could not be taken as a solid guarantee, nor their promise they would not run away once released from detention.