Montenegro paves the way for Terraform Labs’ co-founder’s extradition, with the US likely to take precedence.
Do Kwon’s Appeal Denied by Montenegro Court
Montenegro’s Constitutional Court unanimously dismissed Terraform Labs co-founder Do Kwon’s appeal against his extradition verdict. The ruling allows Montenegro’s Justice Ministry to determine his extradition destination.
US Likely to Secure Extradition
Reports suggest the US is the favored choice for extradition. The Justice Ministry’s established stance aligns with America’s efforts to hold Kwon accountable for the Terra ecosystem’s collapse.
South Korea Also Pursues Kwon
Do Kwon is wanted in South Korea for his involvement in the 2022 TerraUSD and Luna token crash. South Korean authorities have actively sought his extradition, highlighting the global impact of the Terra collapse.
Arrest and Legal Complications
Kwon was arrested in Montenegro in March 2023 while attempting to travel using a counterfeit passport. His actions have intensified legal scrutiny and escalated international efforts to prosecute him.
US Court Actions Against Kwon
The US has been particularly aggressive in its pursuit, fining Kwon $4.5 billion in June after he failed to settle a lawsuit with the SEC. This demonstrates the US’s commitment to addressing the fallout from the Terra debacle.
Controversy Surrounding Extradition
South Korea’s earlier extradition request was initially prioritized. However, allegations surfaced accusing Montenegro’s Prime Minister of leveraging Kwon’s extradition for a separate 30-year airport concession deal with South Korea.
Extradition Decision Looms
Montenegro’s Justice Ministry is now poised to finalize Kwon’s extradition destination, a critical move in resolving the high-profile case.
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