The Constitutional Court of Montenegro has dismissed Do Kwon's appeal, co-founder of Terraform Labs, upholding the extradition ruling. The case is linked to the collapse of TerraUSD and Luna cryptocurrencies.
Montenegro Court Decision
The Constitutional Court of Montenegro has rejected an appeal from Do Kwon, upholding the decision to extradite him. This ruling moves the process closer to resolution, intensifying pressure on Montenegro's justice system to choose between South Korea and the USA, both vying for his extradition.
Extradition and Its Implications
Justice Minister Božović now faces the decision of whether Kwon will be extradited to South Korea or the United States, where he faces charges of financial crimes such as fraud and market manipulation. The court’s decision gains particular significance given the global impact of the TerraUSD and Luna collapse.
Do Kwon's Legal Troubles
Do Kwon has been embroiled in legal battles since the TerraUSD and Luna collapse. After the incident, Kwon fled South Korea, ending up arrested in Montenegro in March 2023 for attempting to leave the country with forged documents. In June 2024, Terraform Labs and Kwon settled with the SEC, agreeing to a $4.47 billion penalty, which includes a ban on Kwon's participation in cryptocurrency activities.
Montenegro's decision has significantly impacted the further development of Do Kwon's case, leaving his legal options severely limited. The final decision now rests with Montenegro's justice minister, who will determine the entrepreneur's future.
