🌎 Terraform Labs Co-Founder Appeals Extradition Decision

Lawyers representing Terraform Labs co-founder Do Kwon have appealed the Supreme Court of Montenegro’s decision to extradite him. This comes after Montenegrin authorities approved the extradition in mid-April, prompting Kwon’s defense to file another appeal.

The defense team is aiming to prevent Kwon from being handed over to U.S. authorities and instead seeks extradition to South Korea, where the entrepreneur also faces fraud charges. The Korea Times reported that Kwon’s lawyers in Montenegro contested the Podgorica High Court’s ruling, which determined that conditions for extradition to both the U.S. and Korea were satisfied.

Recently, the U.S. Securities and Exchange Commission (SEC) demanded that Do Kwon and his former company pay $5.3 billion following allegations of deceiving investors and the collapse of the UST stablecoin.

Montenegro’s courts have been involved in a series of decisions regarding Do Kwon’s extradition for several months. In early March 2024, one authority approved sending the Terraform Labs co-founder to South Korea, but this decision was later appealed by the prosecutor’s office.

Do Kwon and his business partner were arrested at Podgorica airport in March 2023 for attempting to use fake documents to bypass passport control and board a flight to Dubai.