South Korean crypto boss Do Kwon extradited to US from Montenegro

Montenegro said on Tuesday it completed the extradition of crypto mogul Do Kwon to the United States, Prime Minister Milojko Spajic said.

“This extradition demonstrates our unwavering commitment to international justice and the rule of law,” he said in a social media post.

Kwon was “handed over to the competent law enforcement authorities of the United States of America and agents of the Federal Bureau of Investigation (FBI)”, Montenegro’s interior ministry said in a statement.

He was extradited upon the decision of Montenegro justice ministry to face “criminal proceedings in the US for crimes of conspiracy to commit fraud”, the statement added.

Kwon faces charges of having deceived investors about the stability of the TerraUSD cryptocurrency and how an app used the Terraform blockchain.

Kwon is also wanted by Seoul over his firm’s multibillion-dollar bankruptcy, the country’s interior ministry said.

For months, Seoul and Washington have been seeking the South Korean’s extradition for his suspected role in a fraud linked to his company’s failure, which wiped out about US$40 billion of investors’ money and shook global crypto markets.