United States requests for the extradition of Terraform Labs' CEO Do Kwon from Montenegro has been granted.
In the latest developments in the extradition case of Terra founder Do Kwon, Kwon was extradited from Montenegro to the United States in December 2024, following his guilty plea in August 2025 to two fraud charges related to the collapse of the Terra/Luna crypto ecosystem.
Montenegro's courts initially delayed extradition, but after legal proceedings and consent from Kwon, the Montenegrin Justice Minister authorized his extradition to the US. Before extradition, Kwon was arrested in Montenegro in March 2023 after being on the run since the Terra collapse in 2022.
Upon his arrival in the US, Kwon initially pleaded not guilty to multiple charges including securities fraud, wire fraud, and money laundering in January 2025. However, in August 2025, he changed his plea and pleaded guilty to conspiring to commit fraud and wire fraud, agreeing to forfeit $19 million as part of a plea deal. His sentencing is scheduled for December 2025, with prosecutors advocating for a sentence of up to 12 years, although he faces up to 25 years in prison overall.
The US charges against Kwon center on an estimated $40 billion securities fraud related to Terraform Labs' TerraUSD stablecoin and Luna cryptocurrency. The whereabouts of Kwon's co-founder are currently unknown.
A summary timeline and key points of Kwon's extradition case are as follows:
| Date | Development | |-----------------|--------------------------------------------------| | March 2023 | Arrested in Montenegro after months in hiding | | August 2024 | Montenegro Supreme Court postpones extradition | | October 2024 | Constitutional Court suspends extradition again | | December 2024 | Final approval for extradition; Kwon extradited | | January 2025 | Pleads not guilty to multiple charges in US court| | August 13, 2025 | Pleads guilty to two fraud charges, agrees to forfeit $19M | | December 2025 | Sentencing scheduled, with prosecutors seeking ≤12 years |
These details reflect the most current publicly available information on Do Kwon’s extradition and legal status as of August 2025. The reason for Kwon's release from prison in March 2024 was not stated in the article, and the immigration center where Kwon is being held was not identified. Additionally, the Minister of Justice has rejected the extradition request from the Republic of Korea.
In light of the events, the latest news on politics and general-news fronts includes the extradition of Terra founder Do Kwon from Montenegro to the United States in December 2024. Furthermore, the crime-and-justice sector has been focused on Kwon's guilty plea in August 2025 to two fraud charges related to the collapse of the Terra/Luna crypto ecosystem.
