Montenegro To Extradite Do Kwon To South Korea To Face Cryptocurrency Charges

South Korean cryptocurrency entrepreneur Hyeong Do Kwon leaves prison in Montenegro after being sentenced in March. (file photo)

South Korean cryptocurrency entrepreneur Hyeong Do Kwon leaves prison in Montenegro after being sentenced in March. (file photo)

A Montenegrin court of appeals confirmed on August 1 the decision to extradite Hyeong Do Kwon to South Korea, rejecting Washington's request for extradition. The former CEO and co-founder of the cryptocurrency company Terraform Labs is being sought by U.S. and South Korean authorities for his alleged role in capital market and securities fraud involving assets worth some $40 billion. Do Kwon was arrested with his business partner Chang Joon in March 2023 at Podgorica airport while attempting to fly to Dubai using a fake passport. Chang, who was wanted only by South Korea, was extradited to Seoul on February 5. To read the original story by RFE/RL's Balkan Service, click here.