Montenegro Extradites Terraform Labs Co-Founder Do Kwon To The US

According to Foresight News, Montenegro's Prime Minister Milojko Spajic announced on Tuesday that the country has completed the extradition of Terraform Labs co-founder Do Kwon to the United States. Spajic emphasized Montenegro's commitment to international justice and the rule of law in a post on the X platform. Do Kwon is facing dual prosecution in New York and Seoul due to the collapse of the TerraUSD stablecoin in 2022, which resulted in a $40 billion loss. He was previously arrested in Montenegro for using a forged passport. In April, Terraform Labs and Do Kwon were found liable in a civil lawsuit filed by the U.S. Securities and Exchange Commission (SEC) for alleged fraud. Terraform Labs has agreed to pay a $4.5 billion settlement.