Montenegro’s Constitutional Court docket unanimously rejected Terraform Labs’ co-founder Do Kwon’s attraction concerning a verdict on his extradition over authorized points, Korea JoongAng Every day reported on Dec. 25.
The choice clears the trail for Montenegro’s Justice Minister to find out Kwon’s extradition vacation spot, which is now anticipated to be the US because of the ministry’s established stance, the report added.
Kwon can also be wished in his dwelling nation of South Korea, the place authorities have pursued him on fees linked to the high-profile collapse of the TerraUSD (UST) and Luna tokens in Might 2022.
Battle for extradition
Kwon was apprehended in March 2023 after being on the run for months. He was trying to journey by way of Montenegro utilizing a counterfeit passport, additional complicating his authorized troubles.
The US has been significantly vocal in pursuing Kwon, searching for to carry him accountable for his function within the implosion of Terraform Labs’ stablecoin ecosystem. A US court docket fined Kwon $4.5 billion in June after failing to settle the civil lawsuit with the US Securities and Alternate Fee.
Nonetheless, South Korea has additionally signaled sturdy curiosity in prosecuting the crypto mogul, highlighting the worldwide ramifications of the Terraform collapse. The Appellate Court docket beforehand upheld a choice to prioritize South Korea’s extradition request over the US.
Nonetheless, former Montenegrian Justice Minister Andrej Milović argued that Prime Minister Milojko Spajić used the extradition as leverage for a 30-year concession for the nation’s airports with South Korea.
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Gino Matos
Gino Matos is a regulation college graduate and a seasoned journalist with six years of expertise within the crypto trade. His experience primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).