Do Kwon Will Be Extradited to South Korea

Montenegro's Appeals Court ruled on August 1, 2024 that Do Kwon, former CEO and co-founder of Terraform Labs, should be extradited to South Korea rather than the United States, because South Korea was the first country to request his extradition. The ruling was not appealed, so the decision has become final. The article notes that many believe Kwon's punishment would be far less severe in South Korea, and cites Terrence Yang, managing director at Swan Bitcoin, who told Bloomberg in March that a South Korean trial could result in an acquittal or a "comically light sentence." The article also reports, citing SEC court documents, that Montenegro's Prime Minister Milojko Spajic invested in Terraform Labs in 2018, though it is unclear whether Spajic has any ties to Kwon.