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Montenegrin Justice Minister Bojan Bozovic has ordered the extradition of Terraform Labs co-founder Do Kwon, also wanted by South Korea, to the United States, the ministry said Friday.
A South Korean national, Kwon is the former CEO of South Korea-based Terraform Labs, the company behind the stablecoin TrraUSD that collapsed in May 2022, roiling cryptocurrency markets.
He was arrested in March 2023 while attempting to leave Montenegro.
After the Supreme Court determined that all legal conditions were fulfilled to extradite Do Kwon, the justice ministry concluded that most legal criteria favored the US request so Bozovic signed a decree to send him to the United States, the ministry said in a statement.