Montenegro court confirms mogul known as ‘cryptocurrency king’ to be extradited to South Korea

📆 3/20/2024 5:01 PM
📰 globebusiness

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Do Kwon was arrested in the Balkan nation last year over a $40-billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world

Montenegrin police officers escort South Korean citizen, Terraform Labs founder Do Kwon, in Montenegro's capital Podgorica, March 24, 2023.An appeals court in Montenegro on Wednesday confirmed that a South Korean mogul known as “the cryptocurrency king” will be handed over to his native country.

The Appeals Court of Montenegro approved an earlier ruling by the High Court to extradite Kwon to South Korea rather than the United States, a statement said. He has no further avenues for appeal.It was not immediately clear when Kwon would be handed over. Kwon’s lawyer in Montenegro, Goran Rodic, said that “we are content with the decision of the Appeals Court.”

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