Extradition of Do Kwon to South Korea Finalized
A Montenegro appeals court has denied Terraform Labs founder Do Kwon’s bid to overturn a previous ruling that approved his extradition to South Korea.
Released on Wednesday, the official notice confirms that Kwon will now face criminal charges in his home country related to the collapse of his multi-billion-dollar Terra-LUNA ecosystem.
Key points:
- The Montenegro appeals court rejects Do Kwon’s appeal against extradition to South Korea.
- Goran Rodic, Kwon’s attorney, affirms that the U.S. and Kwon cannot further appeal the extradition decision as it is now final.
- The timeline for Kwon’s extradition to South Korea has not yet been determined.
- The U.S. Department of Justice has stated that it will continue to seek Kwon’s extradition to the U.S.
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The Montenegro high court ruled in favor of Kwon’s extradition to South Korea earlier this month. However, Kwon’s legal team had filed an appeal in an attempt to reverse the decision. The appeals court’s rejection of this bid means that the extradition process will now move forward.
Extradition of Do Kwon is now final
Goran Rodic, Do Kwon’s attorney, confirmed to CoinDesk that the extradition decision is now final. He also said that neither the U.S. nor Kwon have any further recourse to appeal the ruling. However, Rodic noted that there is currently no timeline for the extradition of Kwon to South Korea.
Kwon’s legal troubles began when he was arrested in Montenegro and charged with carrying falsified official documents. In addition to the charges he faces in South Korea, the U.S. Department of Justice has also expressed its intention to continue seeking Kwon’s extradition to the United States.
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The appeals court’s decision to uphold the extradition ruling was based on a careful assessment of the competing requests from South Korea and the United States.
The collapse of Kwon’s cryptocurrency enterprise in May 2022 sent shockwaves through the industry. Billions of dollars in value were wiped out in a matter of days. The fallout from the incident has led to increased scrutiny of the cryptocurrency sector and calls for greater regulation to protect investors.
