BELGRADE: Montenegro will extradite to the United States South Korean cryptocurrency specialist Do Kwon, who is also wanted by Seoul for the multi-billion-dollar bankruptcy of his company, Terraform Labs, the Montenegrin Justice Ministry announced on Friday.

For months, Seoul and Washington have been seeking the South Korean’s extradition for his suspected role in a fraud linked to his company’s failure, which wiped out about $40 billion of investors’ money and shook global crypto markets.

“The Minister of Justice, Bojan Bozovic, issued a decision approving the extradition of the accused, Kwon Do Hyung, to the United States of America,” the Ministry of Justice announced, following a year and a half of dizzying court rulings and subsequent reversals regarding his extradition.

“It was concluded that the majority of the criteria prescribed by law favour the extradition request from the competent authorities of the United States of America,” the Ministry added in a statement.

The crypto tycoon was arrested in March 2023 at the airport in Podgorica, the Montenegrin capital, while preparing to board a flight to Dubai, in possession of a fake Costa Rican passport.

Published in Dawn, December 28th, 2024

Opinion

Editorial

Maintaining balance
Updated 16 Feb, 2025

Maintaining balance

It must take a more proactive approach to establishing Pakistan’s bona fides.
Welcome return
16 Feb, 2025

Welcome return

IT is almost here; the moment Pakistan has long been waiting for — the first International Cricket Council...
Childhood trauma
16 Feb, 2025

Childhood trauma

BEING a child in this society should not be so hard. But recurrent reports of child abuse — from burying girl...
The Peca problem
Updated 15 Feb, 2025

The Peca problem

The fight for fundamental freedoms is not the media’s alone, but one that concerns every citizen.
Miners in danger
15 Feb, 2025

Miners in danger

YESTERDAY’S devastating terrorist attack in Harnai, which killed at least 11 coal miners and injured seven others,...
Solar panels scam
15 Feb, 2025

Solar panels scam

THE scam involving over-invoicing to the tune of more than Rs69bn in the import of solar panels raises many ...