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AP-National

Montenegro court rules to extradite Terraform Labs founder to the US. An appeal is pending

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Published 5:51 AM

By PREDRAG MILIC
Associated Press

PODGORICA, Montenegro (AP) — A court in Montenegro has ruled that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea. The announcement came from a court official on Thursday. Montenegrin authorities arrested 32-year-old Kwon nearly a year ago on an international arrest warrant in connection with a $40 billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world. Both South Korea and the U.S. have requested his extradition from Montenegro. High Court spokeswoman Marija Rakovic said Kwon’s lawyers have three days to appeal the ruling.

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