Montenegro orders the extradition of Terraform laboratory co-founder Do Kwon to the United States Reuters

SARAJEVO (Reuters) – Montenegrin Justice Minister Bojan Bozovic has ordered the extradition of Terraform Labs co-founder Do Kwon, who is also wanted by South Korea, to the United States, the ministry said on Friday.

A South Korean national, Kwon is the former CEO of South Korea’s Terraform Labs, the company behind the TrraUSD stablecoin that collapsed in May 2022, roiling the cryptocurrency markets.

He was arrested in March 2023 while trying to leave Montenegro.

After the Supreme Court determined that all legal requirements for Do Kwon’s extradition were met, the Ministry of Justice concluded that most of the legal criteria were in favor of the American request, so Božović signed a decree on his transfer to the USA, the Ministry announced.