Terra Luna’s Do Kwon is likely to be extradited to the United States, marking the latest development in his ongoing legal troubles. As per a Wall Street Journal report, Montenegro has informally agreed to extradite the former crypto mogul to the US to face criminal charges.
Arrest and Extradition Proceedings
Do Kwon’s legal woes escalated when he was arrested in March in Montenegro with fake documents while trying to leave the country. His extradition has been a topic of intense discussion ever since. Recent reports indicate that these discussions are nearing a conclusion, with extradition now appearing imminent.
Previously a prominent figure in the digital asset sector, Do Kwon faced a downfall due to his involvement in manipulating the TerraUSD stablecoin. This manipulation led to criminal charges against him, following a catastrophic $40 billion crash. Prosecutors in the United States and South Korea are eager to put him on trial.
Legal Developments in Montenegro
After his arrest in Montenegro for possessing false documents, Do Kwon has been detained there since March. Recent updates reveal that his extradition to the US is becoming more certain. A senior Montenegrin justice official has reportedly confirmed the extradition plans privately. Despite Do Kwon’s lawyers attempting to overturn a late November decision that authorized his handover, it seems these efforts have been unsuccessful.
Do Kwon faces charges from the US Securities and Exchange Commission (SEC) for allegedly orchestrating a massive crypto asset securities fraud. His extradition is expected to lead to a trial addressing the crimes he committed as the head of Terra Luna.
