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Do Kwon to Face US Trial After Extradition Approval
In a significant development, Montenegro’s Minister of Justice has officially signed a decision to extradite Terraform Labs co-founder Do Kwon to the United States. This decision was confirmed by local news outlet Vijesti, which rejected South Korea’s competing extradition request.
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. Following his extradition approval, it is now expected that he will face trial in a U.S. court.
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 sets a new standard for how international cases of crypto fraud are handled, reinforcing investor protection and legal accountability in the rapidly evolving cryptocurrency space.
As Kwon prepares to face trial, he may be looking at a significant prison sentence if convicted.
Source: www.cryptonewsz.com
