Do Kwon Wins Second Appeal Against Extradition from Montenegro

Published: Feb 8, 2024
Written By:
Vignesh Karunanidhi
Milk Road Writer

Terraform Labs co-founder Do Kwon has won another appeal against the Montenegro High Court’s decision to allow his extradition to the United States and South Korea to face charges related to the collapse of the Terra ecosystem.

In a new ruling on Thursday, the Montenegro Court of Appeals revoked the High Court’s approval of the extradition requests. The Appeals Court cited procedural issues in how the extradition requests were handled, saying there was a lack of clear reasoning and facts provided in the High Court’s decisions.

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Key details:

  • Kwon was initially detained for using a fake passport, months after his Terra ecosystem collapsed.
  • He was released on bail in May after paying $436,000, but was later sentenced to four months in prison for document forgery.
  • In November, the High Court approved the U.S. and South Korea’s request to extradite Kwon to face charges.
  • Kwon won an appeal of that decision in December, but the High Court again ruled the extraditions valid later that month.

Latest appeal marks a victory for Do Kwon

The court said there were ambiguities around the order in which the extradition requests arrived from South Korea and the U.S. The case will now return to the lower court for reconsideration.

The latest appeal represents a significant victory for Kwon in his months-long effort to fight extradition since his arrest in Montenegro. However, the embattled crypto entrepreneur still faces uncertainty over his future.

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In the meantime, Kwon remains in custody in Montenegro. His former colleague, ex-Terraform CFO Chang-Joon Han, was extradited to South Korea on Monday to face charges himself.

Vignesh Karunanidhi
Milk Road Writer
Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 5 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.