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Montenegro Appeal Court Denies Do Kwon’s Extradition Appeal
A Montenegro appeal court has denied Do Kwon’s extradition appeal, upholding a ruling mandating his extradition to South Korea. The ruling was finalized on March 5 in Podgorica.
Background
Do Kwon, the architect behind the failed crypto project TerraUSD stablecoin, is facing extradition to South Korea over charges related to the collapse of Terra in May 2022. His partner, Han Chang-joon, has already been extradited to South Korea.
Extradition Requests
Both South Korea and the U.S. have sought to extradite Kwon. Montenegro’s minister of justice has given preference to South Korea, citing the earlier arrival of their request.
Court Decision
The appeal court confirmed the decision, stating that South Korea’s request was granted precedence over the U.S. request due to its earlier submission. There is currently no set timeline for Kwon’s extradition to South Korea.
Legal Proceedings
The United States Department of Justice (DOJ) charged Kwon with eight criminal counts in March 2023 and expressed intent to pursue his extradition to the U.S. The DOJ’s response to the latest Montenegro decision remains undisclosed.
Do Kwon’s Arrest and Terra’s Collapse
Following the collapse of TerraUSD stablecoin, Kwon faced legal actions in the U.S. and South Korea. He was apprehended in Montenegro and sentenced to imprisonment after attempting to escape using a forged passport.
Current Status
Despite denying the charges, Kwon is expected to be extradited to South Korea following the rejection of his appeal. South Korean authorities are determined to prosecute him for alleged fraud and tax evasion.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
