Do Kwon, the founder of Terraform Labs, has filed an appeal against the Montenegrin court’s decision to extradite him to either South Korea or the United States.
The Montenegrin Court of Appeal confirmed on December 6 that Do Kwon has contested the decision, stating, “I do not accept the court’s decision to extradite me, so I do not submit to the court’s decision.”
With this appeal, the Montenegrin Court of Appeals is mandated to reassess the extradition decision. Consequently, the Montenegrin Ministry of Justice faces challenges in reaching a conclusive decision on Do Kwon’s repatriation by the looming deadline of December 15.
The Extradition Saga
This legal development follows the Montenegrin court’s initial decision on June 15 to detain Do Kwon for extradition, setting a six-month detention period until December 15.
In recent developments, Marija Rakovic, the press officer of the Podgorica High Court, clarified on December 1 that individuals involved in extradition cases, such as Do Kwon, possess the right to challenge court decisions, as per information sourced by local news publication Digital Asset.
Rakovic further elaborated, stating, “Once the appeal is submitted, the Montenegro Court of Appeals will decide (on extradition) again.”
While there is a prevailing local belief that the chances of overturning the repatriation decision are minimal, the legal process continues to unfold.
Approximately two weeks following the extradition decision, Do Kwon has filed an appeal. On November 24, in a press release, Montenegro’s High Court announced the approval of Do Kwon’s extradition, which had been requested by both South Korea and the United States.
Despite this, the court clarified that the final decision on the repatriation country, whether Korea or the United States, rests with the Minister of Justice.
During the extradition trial, Do Kwon expressed a preference for extradition to Korea, as mentioned in the court’s press release. On the other hand, the U.S. SEC is also seeking the extradition of Do Kwon.
The Uncertain Fate of Do Kwon
Subsequently, concerns have arisen regarding Do Kwon’s intention to comply with the extradition decision, prompting inquiries from various parties, including the Montenegrin court, the Ministry of Justice, and Do Kwon’s legal representative.
A journalist well-versed in Montenegro’s legal landscape revealed on December 3 that there is a strong likelihood of Do Kwon being extradited, possibly to Korea or the United States, in January of the coming year.
The journalist pointed out that the attention drawn to Do Kwon’s imprisonment in Montenegro has become a source of concern for many government and judiciary officials in the country.
Do Kwon is facing criminal charges in South Korea and the United States for allegedly violating securities laws and engaging in market manipulation through the Terra blockchain and stablecoin project. He was arrested in Montenegro in June while traveling with his family.
The Terra founder has denied any wrongdoing and claimed that he is a victim of a political witch hunt. He has also received support from the Terra community and other prominent figures in the crypto space, such as Sam Bankman-Fried, the founder of FTX.
The fate of Do Kwon and his Terra project remains uncertain as the extradition saga continues to unfold in Montenegro. The case has also raised questions about the legal status and regulation of crypto projects and stablecoins around the world.
