Montenegro’s Constitutional Court has rejected the appeal of Terraform Labs co-founder Do Kwon, moving him closer to possible extradition. The court's decision paves the way for Montenegro’s justice minister to make the final decision on extradition to South Korea or the US.
Court Decision
Montenegro's Constitutional Court unanimously rejected Kwon's appeal, citing unresolved legal issues. This decision allows Montenegro's justice minister to proceed with deciding on his potential extradition to South Korea or the US.
Implications for Do Kwon
Following his arrest in Montenegro in March 2023, Do Kwon has faced increasing legal challenges. Both South Korea and the US seek his extradition, with the US more likely to prosecute him for charges including securities fraud and conspiracy. Meanwhile, South Korean authorities continue their investigation.
Charges Against Do Kwon
Kwon is accused of playing a key role in the collapse of TerraUSD and Luna in May 2022, which wiped out billions in investor funds. He was arrested while attempting to travel with a fake passport and has since been under investigation by both South Korea and the US.
Montenegro's Constitutional Court's decision to reject Do Kwon's appeal marked a significant step towards his extradition. As both South Korea and the US continue their investigations, it remains to be seen where Do Kwon will ultimately stand trial.
