- Montenegro court denies Do Kwon appeal and allows the Justice Ministry to handle the extradition decision.
- Do Kwon extradition to the US may align with Montenegro national interests, analysts say.
- South Korea and the US compete for Do Kwon extradition as Terra Luna legal issues grow.
The Constitutional Court of Montenegro has rejected an appeal from Kwon Do-hyeong, known as Do Kwon, co-founder of Terraform Labs. The decision, announced on Dec. 24, upheld the Justice Ministry’s authority to oversee his extradition process. This ruling marks a critical development in Kwon’s ongoing legal battles.
Kwon is accused in the $34.26 billion Terra-Luna cryptocurrency crash. He fled South Korea in 2022, journeying across many countries, including Singapore and Serbia. However, he was detained in Montenegro over a failed attempt to use a forged passport. His extradition proceedings have attracted considerable international attention.
Court Ruling Clears Justice Ministry’s Path
The court found no violation of his rights to a fair trial or family life. His legal team had challenged a Supreme Court decision that nullified his transfer to South Korea and granted extradition authority to the justice minister.
This ruling gives Montenegro’s Minister of Justice, Bojan Božović, full discretion in deciding Kwon’s extradition destination. Reports also suggest authorities may lean toward transferring him to the United States instead of South Korea. Analysts believe national interests could shape this decision.
Ongoing Legal Hurdles
South Korea’s Supreme Prosecutors’ Office has repeatedly opposed his return to Seoul. This opposition bolsters speculation about a U.S. extradition. Meanwhile, Kwon’s legal team plans further measures to block a U.S. transfer.
South Korea’s Ministry of Justice and its embassy in Serbia have pressed Montenegro for expedited proceedings. They argue that delays could raise human rights concerns. Moreover, the timeline for Kwon’s extradition remains uncertain.
Accusations and Financial Impact
Kwon is accused of causing massive financial losses linked to TerraUSD (UST) and its token Luna. His alleged actions impacted millions of investors globally. Moreover, the ongoing extradition process will determine where he faces justice for these allegations.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
