Montenegro extradites “cryptocurrency king” to the US: details

After a lengthy legal battle, Montenegro has agreed to extradite South Korean cryptocurrency entrepreneur Hyung Do Kwon, known as the "king of cryptocurrency," to the United States. This was reported by Associated Press (AP), UNN reports.

Details

It is noted that in April, the US held a trial in absentia against Do Kwon. He and Terraform labs were found liable on civil fraud charges for misleading investors.

Minister Bojan Božović issues a document authorizing the transfer to the United States of Do Kwon, the founder of Singaporean crypto firm Terraform Labs, who was arrested in Montenegro last year

However, it does not indicate how long the extradition will take place.

The extradition order came after months of litigation in Do Kwon's case. Both South Korea and the United States had requested his extradition. Various courts in Montenegro have issued and reversed numerous decisions in this regard in recent months, sometimes contradicting each other.

The statement by the Ministry of Justice of Montenegro cited the latest decision of the Supreme Court of Montenegro, which said that the conditions for extradition of Do Kwon to one of the two countries had been met, and that the final decision was up to the Minister of Justice.

On Friday, the ministry said that there are more legal criteria in favor of extradition to the United States.

Do Kwon's lawyers in Montenegro stated that they learned about the decision from the media and that their client cannot be extradited until they receive the decision.

Recall

During the year, KFI experts examined more than 5,000 suspicious banknotes, of which 30% turned out to be counterfeits. The experts talked about methods of verifying the authenticity of banknotes and shared tips for protecting yourself from fraudsters.