Do Kwon to Be Extradited to South Korea After March 23, Lawyer Says

A Montenegrin high court on Thursday approved Kwon's extradition to the Asian nation to face criminal charges over the collapse of Terra.

AccessTimeIconMar 7, 2024 at 2:52 p.m. UTC
Updated Mar 8, 2024 at 10:53 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now
  • Terra founder Do Kwon will be extradited from Montenegro to South Korea to face criminal charges over the collapse of his crypto enterprise after March 23, his lawyer told CoinDesk.
  • Kwon was arrested in Montenegro last year while attempting to travel with falsified documents.
  • The U.S. and South Korea both requested his extradition, and Montenegrin authorities make the decision on where he goes.

Do Kwon, a co-founder of Terraform Labs, is likely to be extradited to South Korea after March 23 following a Thursday decision from a Montenegro high court, his attorney told CoinDesk.

In South Korea, Kwon will face criminal charges concerning the May 2022 collapse of his multibillion-dollar crypto enterprise. The South Korean national successfully appealed an earlier ruling by the same court, which approved his extradition to the U.S.

Following Terra's collapse, Kwon managed to evade South Korean authorities until he was arrested last year in Montenegro while attempting to travel with faked documents. Kwon was arrested alongside former Terra executive Han Chang-joon, who was extradited to South Korea in February.

Kwon will remain in Montenegro, serving a four-month sentence for possession of falsified documents. Following the sentence, he will likely be sent to South Korea, Kwon's Montenegrin attorney Goran Rodic told CoinDesk in a text.

"The decision agrees with the evidence in the case files," Rodic said. "Kwon finishes serving his sentence on March 23 and will be extradited after that. That's all I can say now."

Kwon successfully challenged multiple high court decisions on his extradition before Thursday's ruling. Rodic did not say if Kwon will be appealing this most recent decision.

The U.S. and South Korea both requested Kwon's extradition. In the U.S., Kwon faces a securities fraud trial.

UPDATE (March 7, 15:42 UTC): Adds comments from Kwon's attorney and details throughout.

Amitoj Singh contributed reporting.

Edited by Sheldon Reback.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Sandali Handagama

Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She does not own any crypto.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.