Montenegro court rejects Do Kwon’s extradition appeal

Montenegro’s Constitutional Court unanimously rejected Terraform Labs’ co-founder Do Kwon’s appeal regarding a verdict on his extradition over legal issues, Korea JoongAng Daily reported on Dec. 25.

The decision clears the path for Montenegro’s Justice Minister to determine Kwon’s extradition destination, which is now expected to be the US due to the ministry’s established stance, the report added.

Kwon is also wanted in his home country of South Korea, where authorities have pursued him on charges linked to the high-profile collapse of the TerraUSD (UST) and Luna tokens in May 2022.

Battle for extradition

Kwon was apprehended in March 2023 after being on the run for months. He was attempting to travel through Montenegro using a counterfeit passport, further complicating his legal troubles.

The US has been particularly vocal in pursuing Kwon, seeking to hold him accountable for his role in the implosion of Terraform Labs’ stablecoin ecosystem. A US court fined Kwon $4.5 billion in June after failing to settle the civil lawsuit with the US Securities and Exchange Commission.

However, South Korea has also signaled strong interest in prosecuting the crypto mogul, highlighting the global ramifications of the Terraform collapse. The Appellate Court previously upheld a decision to prioritize South Korea’s extradition request over the US.

However, former Montenegrian Justice Minister Andrej Milović argued that Prime Minister Milojko Spajić used the extradition as leverage for a 30-year concession for the country’s airports with South Korea.

The post Montenegro court rejects Do Kwon’s extradition appeal appeared first on CryptoSlate.

  • Related Posts

    Retail investor demand for Bitcoin is recovering after January low

    In late November, retail investor demand for Bitcoin surged significantly, reaching a peak on Nov. 27 that seemed to cap off a period of heightened enthusiasm among small Bitcoin holders.…

    Continue reading
    Robinhood’s crypto revenue skyrockets 700% amid Bitcoin boom

    Robinhood reported a staggering 400% surge in crypto trading volume in the fourth quarter, reaching $70 billion, as retail investors flocked back to digital assets amid Bitcoin’s (BTC) rally past…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Retail investor demand for Bitcoin is recovering after January low

    Retail investor demand for Bitcoin is recovering after January low

    Robinhood’s crypto revenue skyrockets 700% amid Bitcoin boom

    Robinhood’s crypto revenue skyrockets 700% amid Bitcoin boom

    Franklin Templeton FOBXX tokenized money fund goes live on Solana

    Franklin Templeton FOBXX tokenized money fund goes live on Solana

    CME Group hits record crypto trading volumes in Q4 amid rising institutional demand

    CME Group hits record crypto trading volumes in Q4 amid rising institutional demand

    JPMorgan increases crypto holdings via ETFs, but stays cautious at $1 million

    JPMorgan increases crypto holdings via ETFs, but stays cautious at $1 million

    Bad retail sentiment in crypto presents opportunity – Bitwise CIO

    Bad retail sentiment in crypto presents opportunity – Bitwise CIO