Montenegro’s Minister of Justice has approved the United States request to extradite Do Kwon, the infamous Terra (LUNA) founder.

Minister Bojan Bozokiv signed the verdict on December 27, ending the lingering decision. Notably, the US and South Korea keenly contested the extradition of the embattled Terra boss, seeking to prosecute him for his alleged involvement in the notorious 2022 Terra implosion.

For context, the Terra ecosystem tumbled in 2022, wiping out billions of dollars from the cryptocurrency market. Its native token, LUNA, crashed from over $100 to almost nothing after the algorithmic stablecoin TerraUSD depegged from the dollar valuation.

Following the over $40 billion crypto wipeout, Do Kwon took to his heels, escaping to Serbia before moving into Montenegro. In March 2023, the Montenegro police force arrested him and his partner, Han Cheng Jun, in the Podgorica airport while they attempted to flee the country to Dubai.

Justice Minister Issues Verdict 

Notably, the United States and South Korea had previously filed a request to extradite Do Kwon. Both countries’ prosecutors sought to indict the Terra boss for his involvement in the 2022 crash.

Bozokiv built on an earlier ruling by the Montenegro Supreme Court, stating that both the US and South Korea met the requirements to extradite Do Kwon from the Southeastern European country.

Meanwhile, the Minister of Justice favored the United States. He considered criteria like the gravity of the crime, order of submission, citizenship, and the possibility of further extradition and concluded that Do Kwon would head to the US.

Notably, the statement did not mention the extradition details, such as the date and means of movement. Moreover, Do Kwon remains in the facility for foreigners in Montenegro after being released from prison last year.

South Korea Almost Captured Do Kwon

Meanwhile, the latest ruling came after an earlier conclusion that the Terra boss would be heading to South Korea. For context, a federal court ruled in March that Montenegro will extradite Do Kwon to his home country for further trial.

South Korea placed a red label on Do Kwon and made several attempts to capture him, all to no avail. Notably, the Terra founder could face up to 40 years of imprisonment if convicted in his hometown.

Consequently, Terraform’s crash affected major crypto firms like Three Arrow (3AC) and FTX. The firm filed for bankruptcy earlier in the year and paid the US Securities and Exchange Commission (SEC) a staggering $4.47 billion fine.