Terra (LUNA) founder Do Kwon’s extradition country has been determined.
Do Kwon, who has been detained in Montenegro for about a year, was at the center of the debate about whether he would be extradited to the US or South Korea.
Do Kwon had objected to being extradited to the US to avoid facing allegations related to the Terra collapse that caused a major drop in the crypto market.
After lengthy evaluations, the Montenegrin court canceled Do Kwon’s extradition to the US.
In its announcement on 7 March around 17.00 CET, the court indicated that Do Kwon would be extradited to his homeland, South Korea. In South Korea, Do Kwon is also accused of fraud and violating capital market laws.
Kwon’s developed cryptocurrencies Terra Luna and TerraUSD, along with Terra’s algorithmic stablecoin UST, collapsed in May 2022 and caused billions of dollars in losses for investors.
