Do Kwon Released in Montenegro, but Extradition Case Hangs in Balance

Do Kwon, the fugitive co-founder of Terraform Labs, has been released from prison in Montenegro after completing his sentence for using forged travel documents. Kwon's passport has been confiscated, and he has been transferred to a shelter for foreigners while his extradition case is pending. The Supreme Court of Montenegro has suspended previous extradition decisions, and the prosecutor has cited procedural errors. The release has caused a surge in the price of Terra (LUNA), which has risen 20% in the last 24 hours.

Do Kwon Roams Free in Montenegro, but for How Long?

Is Kwon's Release a Sign of Weakening Case for Extradition?

South Korean crypto fugitive Do Kwon has reportedly been released from prison in Montenegro, casting doubt on his imminent extradition to either the U.S. or South Korea. The Supreme Court is still mulling over the extradition requests, but Kwon's release suggests the case may be more complex than initially thought.

Did Montenegro Jump the Gun?

Prison director Darko Vukcevic claims Kwon was released because his prison term for traveling with fake papers had expired. However, Kwon's status as a foreign citizen and the confiscation of his documents suggest that he should have remained in custody. The move has raised questions about whether Montenegro acted prematurely.

Is Kwon's Lawyer Playing the Long Game?

Kwon's lawyer, Goran Rodic, has confirmed the release but emphasized that Kwon's passport has been seized to prevent him from leaving the country. Rodic plans to appeal to the court, arguing that Kwon should be allowed to remain at large until a final decision on extradition is made. This strategy could buy Kwon time and potentially weaken the case for extradition.

What's Next for Terra's Price?

The news of Kwon's release has sent Terra (LUNA) soaring by 20%, a sign of investor optimism. The price surge may reflect expectations that Kwon's extradition is less likely or that the court will rule in his favor. However, the rally could be short-lived if the Supreme Court ultimately decides to extradite him.

Is the Supreme Court Holding the Key?

Montenegro's Supreme Court has intervened in the case, suspending previous extradition decisions. The court has not provided a timeline for its final decision, leaving the fate of Do Kwon and the future of Terra in limbo. The court's ruling will have a significant impact on both the crypto industry and the broader legal landscape surrounding international extradition.