finally? Montenegro’s Ministry of Justice orders Do Kwon to be extradited to the United States, Terra founder’s dream of returning to South Korea is shattered

Here is the English translation: The United States and South Korea are vying to extradite Terraform Labs co-founder Do Kwon from Montenegro (also known as Montenegro). In August, the Montenegrin court had ruled that Do Kwon should be extradited to his home country of South Korea, but the latest news on Friday night shows a reversal, with the Montenegrin government stating that Do Kwon will be extradited to the United States for trial first. Montenegrin Minister of Justice Bojan Božović announced on the official website on Friday (27th) that the Ministry of Justice has ordered the extradition of Do Kwon to the United States, but did not specify when the transfer will take place. The statement added: "Considering the decision of the Supreme Court, the Ministry of Justice has considered all the facts and circumstances, and has assessed the seriousness of the criminal offense, the place of execution, the order of the requests submitted, the citizenship of the requested person, and other circumstances. The conclusion reached by the Ministry of Justice is that most of the criteria prescribed by law favor the extradition request of the US authorities, and the Minister of Justice has issued a decision allowing the extradition of Do Kwon to the United States."

Do Kwon's plan backfires, extradited to the US instead of South Korea

The collapse of the stablecoin TerraUSD (UST) and LUNA in May 2022 caused global investors to lose over $40 Billion. The co-founder of the blockchain, Do Kwon, was subsequently internationally wanted for fleeing, and was finally arrested in March 2023 when attempting to leave Montenegro. Bloomberg points out that it is unclear whether Friday's decision is final, and whether Do Kwon still has a chance to appeal. This is because the Montenegrin court's ruling in August was to prioritize extraditing Do Kwon to South Korea. The local Supreme Court's decision on whether Do Kwon should be extradited to "the US or South Korea" has also been repeatedly changed, and Do Kwon and his lawyers have been fighting for extradition to South Korea rather than the US. The suspected reason, aside from homesickness, is that the punishment for white-collar crimes in South Korea is usually lighter than in the US, which is the calculation Do Kwon has been making. Previously, Terraform Labs' former CFO Han Chang-joon, who was arrested with him in Montenegro, was extradited to South Korea for trial in May this year. Do Kwon's lawyer also stated to the media regarding the latest decision that the Minister of Justice refused to make a decision in accordance with Do Kwon's wishes, involving a violation of his client's basic human rights, right to defense, and right to legal remedies. However, this extradition to the US may be the final decision, as the US inspection authorities claim the final decision on extradition rests with the Montenegrin Minister of Justice. This may resolve the deadlock between the US and South Korea in their race to extradite Do Kwon.