In a significant development in the legal turmoil enveloping Terra Luna founder Do Kwon, reports have emerged indicating his impending extradition to the United States. The Wall Street Journal reveals that Montenegro has privately communicated its intention to send Kwon, also known as Kwon Do-Hyung, to the US to answer to criminal charges.

The journey toward this extradition decision commenced in March when Kwon was apprehended while trying to leave the country using forged documents. A once-respected figure in the digital asset realm, Kwon’s reputation has been tarnished by allegations of manipulating the TerraUSD stablecoin, leading to a string of criminal charges against him. Furthermore, his involvement in a $40 billion crash stemming from his actions has spurred prosecutors in both the United States and South Korea to seek his trial.

Despite vigorous efforts by Kwon’s legal team to stall the extradition process, including appeals against the late November decision sanctioning extradition, reports indicate that his transfer to the United States is inevitable. Sources have privately confirmed Montenegro’s extradition plans, signaling a pivotal turn amid Kwon’s arrest and detention in the country.

The charges levied against Kwon were initiated by the US Securities and Exchange Commission (SEC) in February over allegations of orchestrating a multibillion-dollar crypto asset securities fraud. As Kwon’s extradition looms, it is anticipated that a trial will proceed to address the alleged crimes committed during his tenure as the head of Terra Luna.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.