Do Kwon, the co-founder and former CEO of Terraform Labs, will reportedly be extradited to the U.S. to face prison costs, The Wall Road Journal reported on Dec. 7, citing individuals accustomed to the matter.
Final month, CryptoSlate reported that Kwon confronted potential extradition to the U.S. or South Korea following the Montenegro Excessive Court docket’s evaluation that the mandatory authorized circumstances for his extradition to both nation have been met. Kwon is at the moment imprisoned in Montenegro for touring with cast paperwork.
Kwon had beforehand consented to be extradited to South Korea; nonetheless, the Court docket determined that Montenegro’s Minister of Justice would determine the place he ought to be despatched.
WSJ report claimed that Montenegro’s Justice Minister Andrej Milovic has privately stated he plans to ship the disgraced crypto founder to the U.S. to reply for his crimes. Nonetheless, Milovic has not made any public pronouncements about his determination, as Kwon not too long ago moved to attraction his extradition.
Over the previous a number of months, Kwon has been on the focus from the U.S. and South Korean authorities, who’ve each been vying for his extradition from Montenegro. Prosecutors from each international locations have charged him with critical allegations of fraud and securities-law violations. These costs are tied to the collapse of the Terra algorithmic TerraUSD (USTC, beforehand UST) stablecoin and its related cryptocurrencies final yr, which precipitated vital losses for crypto traders.
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