Extradition of Do Kwon: Cryptocurrency King Faces Justice

Montenegro extradited crypto mogul Do Kwon to the U.S. after rejecting South Korea's request. Kwon, founder of Terraform Labs, faces U.S. fraud charges tied to a $40 billion crypto crash that hurt investors globally. Arrested in Montenegro for a fake passport, Kwon's legal journey has been tumultuous.

Montenegro has extradited Do Kwon, the infamous 'cryptocurrency king,' to the United States, following a decree from the Balkan nation's justice ministry earlier in the month. This decision dismissed a competing extradition request from South Korea, as announced by Montenegrin authorities on Tuesday.

Interpol's National Central Bureau in Montenegro transferred Kwon, the founder of Singapore's Terraform Labs, to FBI agents at the Podgorica Airport border. This handover took place on December 31, 2024, as Kwon faces grave financial misconduct allegations in the U.S.

Kwon's saga has been replete with legal battles since his March 2023 arrest in Montenegro. Alongside another South Korean, he was captured while attempting to leave for Dubai under a false Costa Rican identity. U.S. authorities accuse him of orchestrating a $40 billion crypto disaster that severely affected retail investors worldwide.

(With inputs from agencies.)