Do Kwon, the co-founder of Terraform Labs and Terra blockchain, is set to be extradited to South Korea following a ruling by the Montenegro Appellate Court

Do Kwon, the co-founder of Terraform Labs and Terra blockchain, is set to be extradited to South Korea following a ruling by the Montenegro Appellate Court

Do Kwon, the co-founder of Terraform Labs, is set to be extradited to South Korea following a ruling by the Montenegro Appellate Court.

The court’s decision concludes a series of legal proceedings that debated whether to extradite him to the United States or South Korea. The ruling is legally binding, and there is no motion to appeal the extradition.

Kwon was arrested in Montenegro using fake Costa Rican passports and has faced charges in the U.S. related to a $40 billion crash of Terraform Labs’ cryptocurrency.

This event had an impact on retail investors globally. The charges against him include fraud and financial crimes connected to the collapse of TerraUSD and its sister token, Luna.

The extradition to South Korea is expected to be fast-tracked, although the exact timeline for his repatriation has not been made clear.