Do Kwon’s Extradition Decision Expected by October 19

The extradition process for Terraform Labs co-founder Do Kwon may soon reach its conclusion, with a decision anticipated by Sunday, October 19, according to reports from Montenegrin media outlets.

On October 17, Justice Minister Bojan Bozovic confirmed that the government has selected a destination for Kwon’s extradition. Both the United States and South Korea are seeking his extradition on charges related to cryptocurrency fraud stemming from the collapse of the Terra ecosystem.

Bozovic indicated he could sign the necessary extradition documents by the end of the week, though the exact country Kwon will be sent to remains undisclosed at this time.

Kwon’s Legal Saga Nears Potential Resolution

The Montenegrin government is reportedly working to finalize procedures for Kwon’s extradition, with Minister Bozovic expected to reach a decision no later than Sunday.

Kwon has been held in Montenegro since his arrest in March for traveling on falsified documents. His extradition will mark a major development in the ongoing legal fallout from Terra’s $40 billion implosion in May 2022, which wiped out billions in investor funds.

The Supreme Court of Montenegro ruled in September that legal conditions had been met for Kwon’s extradition to either South Korea or the U.S., leaving the final decision to the Justice Minister.

“It would have been easier if the court had decided which country he should be extradited to,” Bozovic stated. “But when the court leaves it to us to decide, I must act accordingly.”

Meanwhile, Terraform Labs recently reached a $4.47 billion settlement with the U.S. Securities and Exchange Commission. As part of the agreement, the company will wind down operations and liquidate its assets.

Kwon’s case has sparked an extended legal battle between the U.S. and South Korea, with both countries vying for extradition rights. The imminent decision from Montenegro’s Justice Ministry may soon bring clarity to Kwon’s fate and the next phase of the Terra investigation.