Terraform Co-founder Do Kwon’s Extradition Dilemma Unfolds
Reports from Podgorica, Montenegro's capital, reveal a recent decision by the Higher Court regarding Terraform Labs co-founder Do Kwon.
This decision responds to extradition requests from both South Korea and the United States, citing allegations related to financial misconduct in both nations.
The court’s announcement on Friday indicated Kwon’s willingness to be extradited to South Korea. However, the final verdict on extradition preference between the two countries lies with Montenegro’s Minister of Justice.
Should the minister give the green light, Kwon faces extradition after serving a four-month sentence in Montenegro for forgery charges, as stated by the court.
Kwon’s legal journey began in March when he was arrested in Montenegro for allegedly attempting to leave the country with a falsified passport. Granted release on a $436,000 bail in May, he awaited trial. Subsequently, a Montenegro court handed him a four-month prison term in June for document forgery.
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In September 2022, Kwon’s global attention peaked when Interpol issued a red notice post the collapse of the TerraUSD and Luna tokens he created. This collapse resulted in an approximate $40 billion loss in investor wealth within days.
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.
