Montenegrin Justice Minister to Determine Fate of Terraform Co-Founder Do Kwon in Extradition Case

Amidst an ongoing legal battle, Do Kwon, founder of Terraform Labs, faces potential extradition after the Montenegrin High Court approved his extradition request. The final decision now lies with the Minister of Justice, who will determine whether Kwon will be extradited to the United States or South Korea. However, the extradition process remains uncertain, with the possibility of an appeal from Kwon and speculation that he may be sent to the United States.

Montenegro's Justice Minister to Decide Fate of Terraform Labs Co-Founder Do Kwon in Extradition Case

Podgorica, Montenegro – The legal saga of Do Kwon, co-founder of Terraform Labs and creator of the collapsed TerraUSD (UST) stablecoin and LUNA cryptocurrency, has taken a pivotal turn as the Montenegrin High Court has again approved his extradition out of the country. However, the final decision on his fate now rests with the Minister of Justice, Andrej Milovic.

Protracted Legal Battle Over Extradition Requests

According to local news media reports, the High Court has twice approved Kwon's extradition, first in November 2023. However, the Supreme Court overturned the initial ruling, requiring the High Court to reassess the case. This has necessitated the resumption of the extradition process.

The High Court's latest decision has placed the onus on Milovic to determine whether Kwon will be extradited to the United States or South Korea, both of which have sought his extradition. The Supreme Court has clarified that the decision ultimately lies with the competent minister rather than the court.

Kwon's Appeal and Speculation of US Extradition

Kwon and his legal counsel have three days from the receipt of the translated ruling to file an appeal. It is currently unclear whether Kwon intends to pursue this avenue. However, speculation suggests that he may face extradition to the United States, as Milovic has previously expressed preference for this outcome.

Arrest and Imprisonment

Kwon's legal troubles commenced following the catastrophic collapse of UST and LUNA in May 2022. He fled to Montenegro via the United Arab Emirates (UAE) and Serbia, where he was apprehended for utilizing a forged passport. After serving a brief sentence, he was remanded to a detention facility pending a decision on his extradition.

Potential Sentence in United States

As previously reported by U.Today, Kwon could face a prison sentence of up to 40 years in the United States if he is extradited. This stems from the Terra LUNA Coin incident and the subsequent $40 billion collapse of UST. South Korea has also charged Kwon with financial crimes related to the same incident.

The developments in Montenegro have reignited attention on the ongoing legal proceedings surrounding the Terraform Labs co-founder. The decision of Milovic will ultimately determine Kwon's fate and potentially shed further light on the circumstances surrounding the collapse of UST and LUNA, which caused significant losses to investors worldwide.