Crypto News- The legal saga surrounding Do Kwon, co-founder of Terraform Labs, took another turn as a Montenegro court overturned a previous decision to extradite him to the United States.
In a recent ruling, the Appellate Court of Montenegro invalidated the earlier extradition approval by the High Court of Podgorica, citing significant procedural violations.
The court highlighted the lack of clear and valid reasons behind the extradition order, signaling flaws in the legal process.
Terra’s Do Kwon Triumphs in Extradition Appeal Against US
This latest development adds to the ongoing extradition battle that began when Kwon was arrested in Montenegro in March 2023. Both the US and South Korea have sought his extradition, sparking debates over his rightful destination.
Notably, this isn’t the first time Montenegro’s courts have intervened. In December 2023, the Appellate Court canceled previous extradition approvals, calling for a retrial at the Podgorica Basic Court.
The final decision on Kwon’s extradition rests with Montenegro’s Minister of Justice, following legal assessments by the High Court.
Terraform Labs, responsible for the Terra blockchain and associated stablecoin and Luna token, faced allegations of fraud leading to a market collapse in May 2022. The US Securities and Exchange Commission accused Kwon and Terraform Labs of orchestrating a fraudulent scheme resulting in substantial financial losses.
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