The Latest Breaking News from Montenegro

The delay in Mr. Kwon's extradition proceedings in Montenegro was a direct result of an appeal made by his legal team, which successfully gained the court's approval.

In 2023, crypto industry onlookers were shocked by high-profile arrests and Sam Bankman-Fried’s trial but also given hope by a flurry of spot Bitcoin ETF applications and rebounding prices.

Prior to Kwon's extradition appeal, a report alleged that Montenegro's Justice Minister, Andrej Milovic, had already made the decision to send Kwon to the U.S. before it was publicly announced.

The decision was made after the U.S. and South Korea made extradition requests to prosecute the crypto entrepreneur on charges related to the collapse of the TerraUSD stablecoin.

During closed-door discussions, Montenegro's Justice Minister Andrej Milovic reportedly mentioned his plans to extradite Do Kwon to the U.S., where is facing multiple criminal charges.

Late last month, the Montenegrin High Court announced that it has "approved the extradition" of Kwon as requested by his home country South Korea and the U.S.

During a hearing at a Manhattan court last Thursday, lawyers for Kwon said that unnamed whistleblowers, one of them from Jump Trading Group, had helped federal regulators in building their fraud case against the Terra co-founder.

Aside from charges in the U.S. and in his home country, Kwon could be facing another class-action lawsuit in Singapore.

Do Kwon must serve his sentence in Montenegro before the extradition takes place.

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