Terraform Labs Co-founder Do Kwon to be Extradited to South Korea

By: Isha Das

Do Kwon, co-founder of Terraform Labs, is set to be extradited to South Korea from Montenegro following a high-profile extradition trial, according to recent reports. South Korean National Police has reportedly sought the aid of Interpol for the extradition.

After a year-long ordeal involving retrials and appeals, local media indicate that the Montenegrin high court has decided to extradite Kwon back to his homeland instead of the U.S. The exact timeline of the extradition remains unclear but is expected to take place after Kwon completes his ongoing forgery sentence on March 23rd.

Kwon's legal woes began last year when he was arrested in Montenegro for using a forged passport. Authorities from both the U.S. and South Korea have shown interest in trying Kwon within their respective jurisdictions, due to his involvement in the fall of Terra's UST stablecoin that reportedly led to a loss of over $40 billion.

In South Korea, Terra co-founder Daniel Shin is currently undergoing trial for fraud, illegal fundraising, and capital market law offences. Kwon had previously consented to deportation to South Korea.