Do Kwon, the founder of Terraform Labs, is set to return to his native South Korea for criminal prosecution following the collapse of Terra’s tokens two years ago, which sent shockwaves through the crypto industry.

According to a report from local Montenegro media outlet Pobjeda on Mar. 6, the High Court in Podgorica has ruled in favor of extraditing Kwon to South Korea. This decision comes after Kwon won a third appeal to avoid extradition to the United States.

Kwon’s defense team, led by attorney Goran Rodic, contested the ruling announced on Feb. 21, alleging judicial misconduct and political pressure. The judge had initially approved Kwon’s extradition to the U.S. based on the order of requests received.

However, an Appellate Court later discovered that the U.S. had only requested temporary detention, not full extradition, after Kwon’s arrest last year. In contrast, both the South Korean Embassy and Ministry of Justice sought Kwon’s repatriation to his home country.

It remains to be seen if Kwon will appeal his extradition to South Korea, as previous legal battles have shown a willingness to challenge decisions.

Authorities from South Korea and the U.S. have been vying for the rights to extradite Kwon in connection to the multi-billion-dollar collapse of Terra. Allegations of fraud and criminal activities surrounding the crash, which resulted in losses of over $60 billion for investors, have led to legal actions in both jurisdictions.

The South Korean National Police Agency had sought assistance from Interpol prior to the approval of Kwon’s extradition, as reported by media outlet Newsis. A former developer from Terra testified in a South Korean court that Kwon was aware of the legal uncertainties surrounding the Terra project.

For more updates on this developing story, stay tuned to Global Crypto News.

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