Montenegro Approves Extradition Of Crypto Mogul Do Kwon To U.S.

Montenegro's Justice Ministry has approved the extradition of Do Kwon, a South Korean entrepreneur known as "the cryptocurrency king," to the United States.

Justice Minister Bojan Bozovic issued the decision following a protracted legal battle between the U.S. and South Korea. I Photo: Do Kwon X

Kwon, founder of Terraform Labs, was arrested in Montenegro last year, Predrag Milic reported for the Associated Press.

Justice Minister Bojan Bozovic issued the decision following a protracted legal battle between the U.S. and South Korea, both of which sought Kwon’s extradition. While Montenegro's Supreme Court recently ruled that conditions were met for extradition to either country, the Justice Ministry determined the U.S. request held more legal merit.

Kwon's lawyers criticized the decision, arguing it was premature and lacked proper notification. "Our client cannot be extradited until we formally receive the ruling," said attorneys Goran Rodić and Marija Radulović.

They also noted that Montenegro’s courts had previously ruled in favor of extradition to South Korea on two separate occasions.