Montenegro justice official considers extraditing crypto tycoon Do Kwon to the U.S.

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Do Kwon.

8th December 2023 – (Podgorica)Montenegro’s top justice official has indicated that he intends to extradite disgraced crypto tycoon Do Kwon to the United States rather than South Korea to face criminal charges, according to sources familiar with the matter.

Kwon, who has been held in custody in Montenegro since March, has become the centre of an international extradition dispute, with both the U.S. and South Korea seeking his return. Prosecutors in both countries are eager to prosecute Kwon for fraud and violations of securities laws related to the crash of his TerraUSD and Luna cryptocurrencies, which resulted in losses amounting to $40 billion in May 2022. Kwon is a citizen of South Korea.

While a Montenegro court granted approval for Kwon’s extradition last month, the final decision on whether he should be sent to the U.S. or South Korea lies with Justice Minister Andrej Milovic. Milovic has not yet publicly announced his decision and is expected to withhold it until the country’s courts have ruled on Kwon’s final appeal against the court’s extradition ruling.