The move follows a months-long legal saga in the case of the founder of the Singapore crypto firm Terraform Labs who was arrested in Montenegro last year
Montenegro has approved the extradition of a South Korean mogul known as “the cryptocurrency king” to the United States, the Balkan country’s Justice Ministry said on Friday.
The Justice Ministry statement cited the latest ruling of Montenegro’s Supreme Court which said that conditions have been met for Kwon to be extradited to one of the two countries, and that the final decision lies with the justice minister.Kwon’s lawyers in Montenegro said they learned about the decision from the media and that their client cannot be extradited until they receive the ruling.
Kwon was charged in the U.S. with fraud by federal prosecutors in New York over a $40 billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world.
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