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The ongoing legal drama surrounding Do Kwon, cofounder of Terraform Labs, takes on a new twist as his fate hangs in the hands of the Minister of Justice.
Do Kwon’s protracted legal battle
According to reports from local news media, the Montenegrin High Court approved, for the second time, Kwon’s extradition out of the country.
In November, the High Court ruled that Kwon satisfied the legal requirements after reviewing extradition requests from South Korea and the United States. However, the local Supreme Court overturned the ruling, sending the case back to the High Court for a reevaluation.
Consequently, the extradition process has to start over. The final decision now rests with Montenegro's Minister of Justice, Andrej Milovic, who will determine whether Kwon is extradited to the United States or South Korea.
“In a situation where two countries are competing for extradition, the court's duty is to determine whether the requirements for extradition of the defendant are met. The decision to approve or prioritize extradition of criminals should be made by the competent minister, not the court,” the Supreme Court stated in its ruling.
Kwon and his lawyer have three days from the date of obtaining the translated ruling from the High Court to file an appeal. At the moment, it is not yet known if Kwon will take the appeal route. However, there is speculation that he may be extradited to the United States, as Minister Milovic expressed a preference for this outcome.
Do Kwon’s arrest
To provide context, Kwon’s legal issues began shortly after the crash of the stablecoin TerraUSD and cryptocurrency LUNA.
He fled to Montenegro through the United Arab Emirates (UAE) and Serbia, where he was arrested for using a fake passport. After serving a sentence, he was transferred to a detention center pending the extradition decision.
As previously reported by U.Today, Kwon could face up to 40 years in prison due to his role in the Terra LUNA Coin incident and the $40 billion TerraUSD collapse.
Arman Shirinyan
Alex Dovbnya
