The South Korean cryptocurrency expert Do Kwon, who is also wanted by Seoul for the multibillion-dollar bankruptcy of his company, Terraform Labs, will be extradited to the United States, Montenegro announced Friday.
His attorneys stated they will appeal to both the national constitutional court and the European Court of Human Rights, condemning the ruling as being outside European extradition accords.
The South Korean’s alleged involvement in a scam connected to his company’s demise, which destroyed over $40 billion in investor funds and rocked the world’s cryptocurrency markets, has prompted Seoul and Washington to demand his extradition for months.
Bojan Bozovic, the justice minister, “issued a decision approving the extradition of the accused, Kwon Do Hyung, to the United States of America,” according to the ministry, which used his full title.
After a year and a half of court decisions and numerous reversals over his extradition, the decision was made.
“It was concluded that the majority of the criteria prescribed by law favour the extradition request” from the United States, the ministry added in a statement.
While getting about to board a flight to Dubai in March 2023, the cryptocurrency tycoon was apprehended at the airport in Podgorica, the capital of Montenegro, while in possession of a forged Costa Rican passport.
He had been evading South Korea and then Singapore for months prior to his arrest, and his business had gone bankrupt in 2022.
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