The Supreme Court of Podgorica in Montenegro has decided to extradite Do Kwon, co-founder of Terraform Labs, to the United States, rejecting the request for his transfer to South Korea.
A Complicated Legal Turn for Do Kwon
Following a series of legal twists and turns, Do Kwon, co-founder of Terraform Labs and a controversial figure in the world of cryptocurrency, is set to be extradited to the United States, following his arrest in Montenegro in March 2023. This decision comes from the Supreme Court of Podgorica, which ruled against Do Kwon’s extradition to South Korea, instead favoring the fraud charges against him in the United States.
Details of the Extradition Procedure
According to information reported on February 21 by Pobjeda, a Montenegrin media outlet, Do Kwon’s legal team’s appeal has been rejected. They argued that the Montenegrin Minister of Justice held the final authority regarding the extradition of the Terraform co-founder, a claim that the high court dismissed.
The exact date for Do Kwon’s transfer to the United States remains uncertain. Since the collapse of Terra in May 2022 and until his arrest in March 2023 for using falsified travel documents, his whereabouts were largely unknown. Do Kwon has been sentenced to four months in prison in Montenegro and has been held pending an extradition procedure.
All eyes are now on the United States, where Do Kwon will have to answer to fraud charges, as the justice system seeks to unravel the circumstances that led to one of the biggest financial disasters in the industry.
