BREAKING: Hot Statement from Montenegro’s Minister of Justice on the Fate of Terra (LUNA) Founder

Montenegrin Justice Minister Bojan Božović said that the decision on the extradition of Terraform Labs founder Do Kwon has been made and will be announced by the end of Sunday.

Montenegrin Justice Minister Bojan Božović confirmed that the decision regarding the extradition of Terraform Labs founder Do Kwon has been made and will be officially announced by the end of the week.

“The decision has actually already been made and will be signed by the end of this working week,” Božović told BIRN. The announcement comes after months of legal proceedings and international pressure for the extradition of Do Kwon, who was arrested in Podgorica in March 2023.

Do Kwon faces indictments in South Korea, Singapore, and the United States, all of which have formally requested his extradition from Montenegro. The charges stem from his involvement in the May 2022 collapse of the Terra Luna and Terra cryptocurrencies, which resulted in losses of approximately $40 billion. Interpol issued a red notice for Do Kwon's arrest in September 2023.

On September 19, 2023, the Supreme Court of Montenegro ruled that the legal conditions for Do Kwon’s extradition to South Korea and the United States had been met, giving the Minister of Justice the authority to make the final decision on which country he will be sent to for criminal prosecution. Commenting on the court’s decision, Božović said: “As the Minister of Justice, I have nothing more to comment on after the Supreme Court’s decision… It would have been easier for me if the court had already decided which country he should be returned to. But when the court leaves the decision to us, I have to act accordingly.” An official statement is expected by the end of Sunday, clarifying the next steps in Do Kwon’s extradition process.

*This is not investment advice.