The US and South Korea are seeking the extradition of Terraform Labs co-founder Do Kwon, who was taken into custody by authorities in Montenegro.
(Bloomberg) — The US and South Korea are seeking the extradition of Terraform Labs co-founder Do Kwon, who was taken into custody by authorities in Montenegro.
Montenegro’s justice minister, Marko Kovac, said a judge would decide how to proceed. Do Kwon is wanted by the US over a cryptocurrency fraud that wiped out at least $40 billion in market value.
“Consideration will be given to the gravity of crimes, location of committed offenses, sequence of requests, as well as citizenship” of the suspects, Kovac told reporters in the capital Podgorica Wednesday. He said that if the suspects are convicted in Montenegro, they’ll first have to serve time there.
Kwon and Terraform’s chief financial officer, Han Chang-joon, were arrested Thursday in the former Yugoslav republic as they tried to fly to Dubai using falsified travel documents, authorities have said. Kwon’s lawyer denied the allegations.
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