In a significant judicial twist, Do Kwon, the founder of Terraform Labs, has won his appeal against extradition to the United States in a Montenegrin court. This decision overturns a previous extradition order that would have seen Do Kwon facing fraud charges in the US in connection with the collapse of the Terra ecosystem.
The previous order from the High Court of Podgorica was affected by significant violations of the criminal procedure provisions of local laws.
Appeal Court
A Complicated Legal Case for Do Kwon
Do Kwon has been at the center of an international legal drama since the dramatic collapse of Terra in 2022, leading to billions of dollars in losses for investors. Escaping the failure of Terra, Kwon sought refuge in Montenegro, where he was held awaiting the outcome of his extradition case.
American authorities sought Do Kwon’s extradition to face charges related to his role in the Terra collapse. The allegations involve alleged fraudulent activities that caused the destabilization and collapse of the Terra ecosystem, resulting in substantial financial losses on an international scale.
The Montenegrin Court of Appeal had previously cancelled the approval of Do Kwon’s extradition to the United States or South Korea in December 2023, arguing that the case should be sent back to the Podgorica basic court for a new trial.
The High Court of Podgorica had already established the legal conditions for Do Kwon’s extradition in November 2023, leaving the final decision on Do Kwon’s extradition to the Montenegrin Minister of Justice.
