United States receives approval for the extradition of Do Kwon, a notable figure, from Montenegro.
In a significant turn of events, Montenegro's Minister of Justice, Bojan Bozović, has approved the extradition of Terra founder Do Kwon to the United States.
The decision, which came in early 2025, followed a protracted legal battle that involved delays and appeals. Kwon was arrested in Montenegro in June 2023 for using a forged Costa Rican passport. He was sentenced to four months imprisonment there but lost his appeal in Montenegro's highest court.
The extradition was delayed at times due to political complexities and corruption allegations involving Montenegrin officials. However, after a Supreme Court decision in December 2024, Kwon was extradited to the US on January 2, 2025.
Since arriving in US custody, Kwon initially pleaded not guilty to nine felony counts related to the collapse of Terra, including conspiracy to defraud, wire fraud, securities fraud, and money laundering conspiracy. However, in August 2025, he changed his plea and pleaded guilty to conspiracy to commit fraud and wire fraud, marking a significant shift in the case.
Kwon, the Terra founder, has challenged the Montenegrin authorities' decisions to extradite him on multiple occasions. The extradition decision was made after considering various factors related to the case, including the severity and location of the crime, the order of submission of official documents, and the possibility of further transfer of Kwon to another country.
It's worth noting that the Minister of Justice rejected the extradition request from the Republic of Korea, and the extradition is to the United States, not South Korea. The court in Montenegro has dismissed Kwon's latest appeal against the extradition.
This isn't the first time Montenegrin authorities have been involved in the cryptocurrency world. In September, the co-founder of the cryptocurrency pyramid scheme FutureNet was arrested by Montenegrin authorities.
As Kwon awaits further developments, he is expected to remain in an immigration center until his extradition or other updates in the case. The exact timeline for his trial in the US is yet to be determined.
