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Do Kwon to Face US Trial After Extradition Approval
The Montenegro’s Minister of Justice has officially signed a decision to extradite Terraform Labs co-founder Do Kwon to the United States. This move confirms an earlier report by Wu Blockchain, stating that Montenegro has approved extradition for Do Kwon to face trial in the US.
This development marks the culmination of a lengthy legal battle between the U.S. and South Korea, both of which had requested Kwon’s extradition. The U.S. had charged Kwon with multiple counts of fraud related to the collapse of the Terra ecosystem, resulting in billions of dollars in losses for investors worldwide.
South Korea’s authorities had also sought Kwon’s extradition, accusing him of lying to investors and hiding substantial assets linked to the Terra collapse. However, Montenegro’s rejection of their request indicates the complexity of international legal disputes in this space.
What’s Next for Do Kwon?
Kwon will now face trial in the U.S., where he may receive a significant prison sentence if convicted. Legal experts suggest that this extradition decision sends a strong message to those committing financial crimes in the crypto space, indicating that global authorities are cracking down on such activities.
This development is expected to set a standard for how international cases of crypto fraud are handled, reinforcing investor protection and legal accountability in the rapidly evolving cryptocurrency space.
Source: www.cryptonewsz.com
