April

Terra

On August 1, the Court of Appeal of Montenegro upheld a decision to extradite Do Kwon to South Korea, denying the U.S. its extradition request and reportedly making a ‘final’ decision. 
Kwon, a South Korean national, is <a href="https://crypto.news/jury-finds-terraform-labs-do-kwon-guilty-on-fraud-charges/" data-type="link" data-id="https://crypto.news/jury-finds-terraform-labs-do-kwon-guilty-on-fraud-charges/">implicated</a> in a $40 billion crypto fraud linked to the collapse of the Terra cryptocurrencies. Kwon’s legal saga began with the crash of <a href="https://crypto.news/price/terra-luna-classic/" data-type="link" data-id="https://crypto.news/price/terra-luna-classic/">TerraUSD</a> and Luna in May 2022, triggering significant investor losses. 
<h2 class="wp-block-heading" id="timeline-of-do-kwon-s-arrest">Timeline of Do Kwon’s arrest </h2> 
In March 2023, he was <a href="https://crypto.news/terraform-labs-do-kwon-allegedly-arrested-in-montenegro/" data-type="link" data-id="https://crypto.news/terraform-labs-do-kwon-allegedly-arrested-in-montenegro/">arrested</a> in Montenegro while attempting to travel with forged documents. He received a four-month prison sentence, during which multiple extradition requests from the U.S. and <a href="https://crypto.news/tag/south-korea/" data-type="link" data-id="https://crypto.news/tag/south-korea/">South Korea</a> emerged. 
The Montenegrin courts have <a href="https://crypto.news/do-kwon-extradition-approved-again/" data-type="link" data-id="https://crypto.news/do-kwon-extradition-approved-again/">issued several rulings</a> on his extradition, initially deciding in favor of the U.S. However, the decision was later overturned, favoring South Korea due to its earlier request and significant charges against Kwon, including fraud and bribery. 
In early March 2024, Montenegrin authorities even&nbsp;<a href="https://crypto.news/do-kwon-south-korea-extradition/" target="_blank" rel="noreferrer noopener">approved</a>&nbsp;sending the co-founder of&nbsp;<a href="https://crypto.news/tag/terraform-labs/" target="_blank" rel="noreferrer noopener">Terraform Labs</a>&nbsp;to&nbsp;South Korea. 
Kwon’s legal issues extend beyond extradition battles. In April 2024, a New York jury found him and his company, Terraform Labs, liable for civil fraud, resulting in a $4.5 billion settlement with the SEC. Despite the settlement, U.S. authorities continue to pursue criminal charges​. 
As Kwon awaits extradition to a shelter for foreigners near Podgorica, time will tell if there are further appeals or decisions made. 
RadioFreeEurope <a href="https://www.rferl.org/a/montenegro-cryptocurrency-do-kwon-chang-extradite-south-korea/33059553.html" target="_blank" rel="">reporting</a> helped with this news.&nbsp;

The Do Kwon saga continues: ex-Terraform CEO extradited to South Korea

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