The internationally known cryptocurrency founder, Do Kwon, will be extradited from Montenegro to his native South Korea following a decision by the appellate court on Wednesday, which upheld the previous ruling. The court rejected a extradition request from the USA, who also sought to press charges against Kwon, citing a procedural error in their application.
Kwon, who created the cryptocurrencies Terra and Luna in Singapore, witnessed the Terra-Luna system collapse dramatically in May 2022, leaving investors with significant losses estimated at $40 billion.
Following the collapse, Kwon went into hiding, prompting Interpol to issue an international arrest warrant against him. Kwon and his business partner, Hon Chand Yun, were subsequently apprehended in Podgorica in March 2023.