Montenegro Court Affirms Do Kwon’s Extradition to South Korea

Following a series of legal proceedings, it seems that Do Kwon, co-founder and former CEO of Terraform Labs, may soon face extradition to South Korea, as confirmed by the Appellate Court of Montenegro. Kwon, arrested alongside Terraform Labs’ CEO in March 2023, had previously faced extradition to the US before the Appellate Court intervened.

The recent announcement from the Appellate Court of Montenegro, issued on March 20, upheld the earlier decision of the High Court to deport Kwon to South Korea. Despite Kwon’s appeal to overturn the decision, the Montenegrin Court of Appeal rejected it, marking a significant setback.

However, this loss contrasts with previous victories for Kwon and his legal team, who had successfully appealed against extradition to both South Korea and the United States. Initially, it appeared that Kwon might face extradition to the US, but the Appellate Court overturned this decision due to procedural violations.

Although the timing of Kwon’s extradition remains unclear, reports suggest that South Korea’s police have sought assistance from Interpol to facilitate his return. The recent announcement by the Appellate Court emphasized that South Korea’s extradition request took precedence over that of the US, a factor considered in the court’s decision.

Meanwhile, US prosecutors, who had charged Kwon in connection with the collapse of TerraUSD (UST) stablecoin and the LUNA token, are reportedly contesting his extradition to South Korea. Kwon, who was sentenced to four months in prison for possessing a fake passport, was arrested alongside Terraform’s former Chief Legal Officer, Han Chang-joon.

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