Terra Founder Won’t Face US Extradition from Montenegro

The extradition case involving Do Kwon, the founder of Terraform Labs responsible for the Terra (LUNA) collapse, took a turn as the Montenegro Appeals Court overturned the decision to send him to the United States or South Korea.

Kwon’s arrest in Montenegro in late March stemmed from allegations of using a falsified Costa Rican passport, a claim he refuted by stating he acquired it through legitimate means from an authorized agency.

Initial discussions surrounding his extradition centered on whether he would be sent to the US or South Korea, both countries seeking his prosecution related to the substantial collapse of the Terra ecosystem in 2022, amounting to $40 billion in losses.

Reports hinted at Montenegro’s Justice Minister, Andrej Milovic, leaning toward Kwon’s extradition to the US over South Korea.

However, following a court’s approval for his extradition to both nations, Kwon appealed the ruling, leading to a retrial ordered by the Appeals Court in the Podgorica Basic Court due to a judge’s refusal to consider Kwon’s arguments.

The final decision regarding Kwon’s potential extradition now rests with Montenegro’s Justice Minister, Andrej Milovic, adding further uncertainty to the case.

Author

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.