Montenegro Court Orders Extradition of Terraform Labs Co-founder to South Korea
According to local reports, a court ruling in Montenegro on Thursday declared that Do Kwon, co-founder of Terraform Labs, will be extradited to South Korea.
This decision marks a reversal from a prior ruling by a different Montenegro court, which had favored extraditing Kwon to the United States on February 21, rejecting South Korea’s extradition request for the creator of Terra.
Kwon contested his extradition to the U.S., with his defense lawyers citing procedural concerns. The Montenegro Court of Appeals subsequently overturned his extradition to the U.S. on March 5.
Earlier in the day, South Korea’s National Police agency enlisted Interpol’s assistance in bringing Kwon back to South Korea from Montenegro, highlighting that South Korea had originally sought his extradition before the U.S.
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Kwon is facing fraud charges in connection with the collapse of the Terra ecosystem, specifically the crash of the algorithmic stablecoin TerraUSD in May 2022, resulting in a $45 billion loss in market capitalization.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
