Do Kwon’s extradition is being sought by these countries

• The U.S. and South Korea are seeking the extradition of Terra founder Do Kwon from Montenegro.
• Justice Minister has stated that Kwon’s prosecution in Montenegro will have priority over extradition.

Terraform Labs co-founder Do Kwon’s arrest in Montenegro earlier this week has become one of the biggest developments in the crypto industry so far.

The fugitive crypto entrepreneur was captured months after he fled his home country of South Korea following the collapse of Terra which wiped out $60 billion from the crypto industry. The country is now seeking Kwon’s return to answer for his crimes and face prosecution. 

Kwon’s prosecution in Montenegro to take precedence

Marko Kovac, the Justice Minister of Montenegro, revealed in a recent press conference that the United States and South Korea had both requested the extradition of Do Kwon.

Both countries have reportedly made diplomatic efforts to secure the custody of the fugitive founder, in order to prosecute him for the fraud he perpetrated last year. Minister Kovac informed that no such request had been received from Singapore, even though the country had requested Kwon’s detention. 

The Justice Minister added that Kwon’s court proceedings in Montenegro will take precedence over any foreign extradition requests. “Primacy is given to the court proceedings led in Montenegro. If they are convicted for the criminal offense of falsifying identification documents, only after they served their prison sentence is it expected that they will be extradited, the Minister stated. 

The final decision regarding Do Kwon’s custody will be made by Montenegro’s high court. Factors including the gravity of crimes, the location of committed offenses, and the sequence of requests, will be considered while making the decision regarding extradition.

Meanwhile, his detention period has been extended to 30 days. South Korea currently has an outstanding international warrant for Kwon’s arrest, along with an Interpol red alert. The United States has claimed jurisdiction based on the fact that American citizens were victims of the fraud at Terra.