Montenegro's Constitutional Court has dismissed the appeal of Terraform co-founder Do Kwon. This decision could pave the way for further proceedings regarding his potential extradition to South Korea.
Extradition Decision
In August, Montenegro's Appellate Court confirmed its decision to extradite Do Kwon to South Korea. This decision was central due to contradictions in extradition requests from the US and South Korea. The High Court in Podgorica prioritized South Korea's request.
Legal Troubles for Do Kwon
Do Kwon is under investigation for fraud and market manipulation. In 2024, a US court found Terraform Labs and Kwon liable for deceiving investors and mismanaging funds. The SEC demanded approximately $4.7 billion in compensation.
Implications for the Crypto Market
In 2022, Terraform Labs experienced significant issues following the Terra LUNA/UST collapse, leading to losses of about $2 trillion in the global crypto market. Do Kwon became a focal point of international investigations ongoing in the US and South Korea.
The recent decision by Montenegro's court emphasizes the importance of international cooperation in addressing economic crimes. The extradition question of Do Kwon remains pertinent and unresolved.
