Montenegro’s Constitutional Courtroom unanimously rejected Terraform Labs’ co-founder Do Kwon’s enchantment concerning a verdict on his extradition over authorized points, Korea JoongAng Day by day reported on Dec. 25.
The choice clears the trail for Montenegro’s Justice Minister to find out Kwon’s extradition vacation spot, which is now anticipated to be the US as a result of ministry’s established stance, the report added.
Kwon can also be needed in his residence nation of South Korea, the place authorities have pursued him on costs linked to the high-profile collapse of the TerraUSD (UST) and Luna tokens in Might 2022.
Battle for extradition
Kwon was apprehended in March 2023 after being on the run for months. He was making an attempt to journey by Montenegro utilizing a counterfeit passport, additional complicating his authorized troubles.
The US has been notably vocal in pursuing Kwon, looking for to carry him accountable for his function within the implosion of Terraform Labs’ stablecoin ecosystem. A US courtroom fined Kwon $4.5 billion in June after failing to settle the civil lawsuit with the US Securities and Alternate Fee.
Nevertheless, South Korea has additionally signaled sturdy curiosity in prosecuting the crypto mogul, highlighting the worldwide ramifications of the Terraform collapse. The Appellate Courtroom beforehand upheld a call to prioritize South Korea’s extradition request over the US.
Nevertheless, former Montenegrian Justice Minister Andrej Milović argued that Prime Minister Milojko Spajić used the extradition as leverage for a 30-year concession for the nation’s airports with South Korea.
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Gino Matos
Gino Matos is a legislation faculty graduate and a seasoned journalist with six years of expertise within the crypto trade. His experience primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
