PANews reported on December 31 that according to Bloomberg, Montenegrin Prime Minister Milojko Spajic said on Tuesday that Montenegro has completed the procedures for extraditing Terraform Labs co-founder Do Kwon to the United States. Spajic posted on the X platform: "This extradition demonstrates our unwavering commitment to international justice and the rule of law."

Do Kwon faces prosecution in New York and Seoul for the collapse of the $40 billion TerraUSD stablecoin in 2022. Last year, he was arrested in Montenegro for traveling with a forged passport. In April, Terraform and its founder Do Kwon were convicted of fraud following a civil trial over charges brought by the U.S. Securities and Exchange Commission (SEC). Terraform has agreed to pay $4.5 billion to settle with the SEC.