Terraform Labs Founder Do Kwon’s Extradition Update

The latest update on Terraform Labs founder Do Kwon’s extradition situation reveals that he will not be returning to South Korea just yet. The Supreme Court of Montenegro has overturned the ruling to extradite Do Kwon back to his homeland, and the case will now return to the Podgorica High Court for a new decision.

The decision to overturn Do Kwon’s extradition was made by a five-judge panel of the Supreme Court. This comes after the Court of Appeal in Montenegro found legal grounds to support South Korean authorities’ request for extradition. However, the Supreme Court justices ruled that the courts only have the authority to determine if extradition requirements were met, stating that the Prosecutor General’s Office of Montenegro deemed Kwon’s approved extradition to South Korea as illegal.

Montenegro’s Ministry of Justice has confirmed the correctness of its legal position in Do Kwon’s case, emphasizing that the Minister of Justice, Andrej Milović, is the sole authority to decide on extradition. Milović is leaning towards extraditing Do Kwon to the U.S., where he faces prosecution for Terra’s $60 billion ecosystem and may face a longer prison sentence if found guilty. Do Kwon was released from Spuž prison in late March after serving his sentence for travel document forgery.

The U.S. and South Korean governments are both requesting Do Kwon’s extradition to pursue criminal prosecution. The situation remains ongoing as authorities continue to deliberate on the next steps in Do Kwon’s case.