Terraform Labs co-founder Do Kwon, infamous for his role in the collapse of TerraUSD (UST) and LUNA, is set to be extradited to the United States following a ruling by Montenegro’s Minister of Justice, Bojan Božović. This decision comes after Montenegro’s Constitutional Court dismissed Kwon’s latest appeal, effectively ending a prolonged legal saga.
A Controversial Arrest and Legal Tug-of-War
Kwon was apprehended in Montenegro in June 2023 for attempting to flee the country using a fake passport. Both the U.S. and South Korea sought his extradition to face charges related to financial crimes, sparking a lengthy battle over his fate.
The High Court of Podgorica initially approved his extradition in November 2023, leaving the choice of jurisdiction—U.S. or South Korea—to Montenegro’s justice minister. Although his defense team successfully delayed proceedings in May 2024 by appealing the decision, the case bounced between various courts, with rulings oscillating between extraditing him to the U.S. or South Korea.
In August 2024, Montenegro’s Appellate Court upheld a decision to extradite Kwon to South Korea, citing procedural requirements. However, the case was sent back to the justice minister in September 2024 for further deliberation.
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The Final Decision
On October 17, 2024, Montenegro’s Ministry of Justice ultimately sided with the U.S. request for extradition, citing legal criteria favoring the American authorities. A pending appeal from Kwon’s legal team briefly halted the decision, but the Constitutional Court’s dismissal of his appeal marked the conclusion of this saga.
Implications for Kwon and the Crypto World
Kwon’s extradition to the U.S. signals a significant milestone in international cooperation on financial crimes involving cryptocurrencies. Legal experts suggest his trial in the U.S. could set precedents for prosecuting similar cases in the future.
With his extradition now finalized, Do Kwon faces an uncertain future as he prepares to answer for his actions on American soil.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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