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Extradition Battle Win For Do Kwon: Montenegro Court Decision Reversed, LUNC Jumps 13%

Press Releases Crypto News Bitcoinist Extradition Battle Win For Do Kwon: Montenegro Court Decision Reversed, LUNC Jumps 13%

In a significant turn of events, a court in Montenegro has overturned the extradition order of Do Kwon, co-founder of Terraform Labs, to the United States or South Korea. The Podgorica-based Appeals Court made the decision, which cited procedural irregularities and lack of clarity in its ruling.

The court’s decision came in response to an appeal filed by Do Kwon’s defense, which resulted in the case being sent back to the Supreme Court for reconsideration.

Do Kwon’s Extradition In Limbo

The appellate court’s ruling adds new uncertainty to extraditing Do Kwon. As reported by Bitcoinist, authorities last week extended Do Kwon’s extradition detention until mid-February, giving them time to decide whether he should be extradited to the United States or South Korea.

The final decision on Kwon’s destination rests with Montenegro’s justice minister, as both countries have indicted him on charges related to the collapse of TerraUSD, an algorithmic stablecoin, in 2022.

The decision to cancel the extradition approval follows an appeal by Do Kwon just two weeks after the High Court’s initial ruling. The November 24 statement by the High Court had approved the extradition request from South Korea and the United States but left the final decision to the discretion of the Montenegrin Minister of Justice.

Do Kwon’s appeal was rooted in his firm opposition to the court’s ruling, as he explicitly stated, “I do not accept the court’s decision to extradite me, so I do not submit to the court’s decision.”

Do Kwon, along with Han Chang-Joon, the former finance officer of Terraform Labs, was Go to Source to See Full Article
Author: Ronaldo Marquez

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