A Montenegro appeals court has affirmed the decision to extradite Terraform Labs founder Do Kwon to South Korea, dismissing his appeal to overturn the earlier ruling. This final judgment means Kwon will face criminal charges in South Korea related to the collapse of his cryptocurrency enterprise, Terra, in May 2022. The decision cannot be contested further by Kwon or the U.S., where the Department of Justice also seeks his extradition.
Legal Proceedings in Montenegro
Do Kwon’s legal journey in Montenegro began with his arrest for possessing falsified official documents. Despite successfully contesting initial high court decisions that favored extradition to the U.S., the appeals court has now definitively ruled in favor of sending him to South Korea. This ruling is based on the precedence and order of arrival of South Korea’s extradition request over that of the U.S., among other criteria evaluated by the court.
U.S. Department of Justice’s Ongoing Efforts
Despite the appeals court’s decision, the U.S. Department of Justice remains determined to pursue Kwon’s extradition to the United States. However, the timeline for Kwon’s extradition to South Korea remains uncertain, as detailed by his attorney, Goran Rodic. The U.S. Department of Justice’s next steps in response to this setback have not been publicly outlined following the court’s announcement.
This development marks a significant moment in the ongoing saga surrounding the dramatic collapse of the Terra ecosystem, highlighting the international legal complexities involved in the burgeoning cryptocurrency sector.
