The Appellate Court in Montenegro has reversed the extradition order for Terraform Labs co-founder Do Kwon who appealed through his defense attorneys, and annulling the ruling of the high court last December.
Kwon initially succeeded in challenging his extradition in December, but the same court reversed their decision later that month. Kwon appealed again in January, seeking to block his extradition once more.
The court pointed out to procedural problems, insisting on the ambiguities in the High Court’s ruling and failure to establish order between South Korea’s request for extradition and that coming from the U.S.
The case, concerning financial crimes associated with the collapse of the May 2022 Terra ecosystem will now revert to the first instance court for further deliberation.
Do Kwon was charged with using a fake passport in Montenegro but released on $436,000 bail in May 21st. In June, he was sentenced to four months in prison for document falsification confirmed later in November.
The hunt for Kwon began internationally when the collapse of TerraUSD and Luna tokens erased $40 billion in investor wealth. While his former colleague, Han Chang-joon – ex CFO of Terraform Labs was extradited to South Korea, Kwon’s extradition is still unclear after the court ruling.
Also Read: SEC Delays Legal Proceedings Against Terraform Labs and Co-founder Do Kwon
