United States orders bring Do Kwon, crypto investor, from Montenegro
In a significant turn of events, 2023 saw the arrest of Do Kwon, co-founder of Terraform Labs (Terra/Luna), in Montenegro on charges related to the collapse of the Terra ecosystem and possible fraudulent activities. This arrest marked the beginning of a series of legal proceedings that spanned well into 2024.
Following his arrest, extradition proceedings took place in Montenegro through late 2023 and into early 2024. The extradition process was a significant legal milestone and required court accommodations, including the postponement of his U.S. trial to March 25, 2024, by Judge Radkoff to allow time for extradition procedures.
Early in 2024, Do Kwon was extradited to the United States, where he faced criminal charges in Manhattan. He pleaded not guilty after extradition. The U.S. court proceedings and legal battles continued through 2024, with Do Kwon actively litigating and responding to charges.
Meanwhile, during the same period, there were no publicly available reports indicating any arrest, extradition, or internationally issued wanted status for Richard Heart, the founder of HEX, PulseChain, and PulseX projects. The Terra/Luna case proceedings had been ongoing since spring 2023, while Richard Heart was placed on the international wanted list in late December for tax evasion and assault charges.
On December 27, 2023, Montenegro's Justice Minister Bojan Božović approved the transfer of Terra's founder to US authorities. Do Kwon was handed over to competent US law enforcement authorities and FBI agents at Podgorica Airport. Since March 2024, Terra's founder had been held in a migration center while awaiting the resolution of his case.
Montenegro has zero tolerance for fraud, and the legal proceedings between local courts and Kwon's lawyers had been ongoing since spring 2023 and ended with the minister's decision. The extradition underscores Montenegro's commitment to international justice and the rule of law.
On December 31, 2024, Montenegro completed the extradition of Do Kwon to the United States. The Terra/Luna case and Richard Heart's charges involve different individuals, and it's important to note that the charges against Richard Heart occurred after the Terra/Luna case proceedings.
While Do Kwon's legal journey is unfolding, Richard Heart remains at large. Montenegro welcomes innovation and law-abiding entrepreneurs in cryptocurrency, AI, and other technologies, emphasising the importance of adhering to the rule of law.
Politics and general-news outlets reported on the extradition of Do Kwon, the co-founder of Terraform Labs, from Montenegro to the United States in late 2023. Crime-and-justice sectors are now handling the criminal charges against him, with Kwon pleading not guilty after extradition. Conversely, Richard Heart, the founder of HEX, PulseChain, and PulseX projects, also faces charges, although no publicly available reports suggest his arrest, extradition, or wanted status as of 2024.
