Do Kwon, the creator of Terraform, will be extradited to the U.S. after Montenegrin Justice Minister Bojan Boovi made the decision on Friday. Both the U.S. and South Korea have been vying for custody of Kwon due to criminal charges linked to the 2022 collapse of the Terra/Luna stablecoin system. Kwon was arrested in Montenegro in March 2023 for passport forgery and has been fighting extradition to the U.S. for over a year. Despite various courts in Montenegro ruling in favor of either the U.S. or South Korea, the Supreme Court’s verdict and the Justice Minister’s assessment favored the U.S. based on criteria like the severity of the crimes and the order of extradition requests. The legal issues surrounding Terra continue in the U.S., with Tai Mo Shan, a Jump Crypto subsidiary, settling SEC charges for $123 million related to selling LUNA as a security.
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