Montenegro said on Tuesday it completed the extradition of crypto mogul Do Kwon to the United States, Prime Minister Milojko Spajic said.

Montenegro extradited crypto mogul Do Kwon to the U.S. after rejecting South Korea's request. Kwon, founder of Terraform Labs, faces U.S. fraud charges tied to a $40 billion crypto crash that hurt investors globally.

The move follows a months-long legal saga in the case of Do Kwon. Both South Korea and the U.S. had requested Do Kwon’s extradition, and various courts in Montenegro over the past months had brought and overturned multiple rulings to extradite Kwon ...

Montenegro on Tuesday extradited Terraform Labs co-founder Do Kwon to the United States, where he faces charges of having deceived investors about the stability of the TerraUSD cryptocurrency and how an app used the Terraform blockchain.

Montenegro's Minister of Justice, Bojan Božović, said in a statement he approved the Terraform founder's extradition to the U.S. rather than South Korea.

Do Kwon, a South Korean cryptocurrency specialist and founder of Terraform Labs, faces extradition to the U.S. over allegations of fraud following the $40 billion collapse of his company.

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 on Friday.

Montenegro has completed the extradition of Do Kwon, the founder of collapsed crypto project TerraUSD/Luna. Kwon was arrested in Montenegro in 2023 and unsuccessfully fought extradition to the US. He is also wanted in South Korea over Terra’s $40 billion crypto implosion in 2022.

Montenegro has approved the extradition of a South Korean mogul known as “the cryptocurrency king” to the United States.

The South Korean co-founder of Terraform Labs had been on the run following fraud allegations over the cryptocurrencies he developed.