Prime

Godzilla

Montenegro’s Supreme Court has reportedly postponed Terraform Labs co-founder Do Kwon’s extradition after upholding a ruling suggesting he would be removed to South Korea.
According to an Aug. 8 report from Montenegrin news outlet Vijesti, the country’s Supreme Court <a href="https://www.vijesti.me/vijesti/crna-hronika/719136/vrhovni-sud-odgodio-izrucenje-do-kvona-juznoj-koreji" target="_blank" rel="noopener nofollow">granted</a> prosecutors’ request to delay Kwon’s extradition to South Korea until the court could rule on a matter concerning the protection of legality. Prosecutors filed the motion on Aug. 2 after an appellate court <a href="https://cointelegraph.com/news/montenegro-appellate-court-upholds-do-kwon-extradition-south-korea">upheld a previous ruling</a> allowing the Terraform co-founder’s extradition. 
<h2 id="from-korea-to-montenegro">From Korea to Montenegro</h2>
After Terra collapsed in 2022, Kwon’s whereabouts were largely unknown, though he remained active on social media. Montenegrin authorities arrested him in March 2023 for using falsified travel documents while attempting to leave the country. 
Kwon served four months in a Montenegrin prison, after which time his lawyers and prosecutors began addressing his extradition to the US or South Korea. He would likely face criminal charges and civil lawsuits related to fraud at Terraform in both countries.
Montenegro’s Prime Minister Milojko Spajić was reportedly an early investor in Terraform, sinking $75,000 into the company in 2018.
Related: <a href="https://cointelegraph.com/news/terraform-fine-resolve-sec-civil-lawsuit">Terraform to pay $4.47B to resolve SEC civil lawsuit</a>
Since his release from prison, the Terraform co-founder has been mired in legal proceedings. Montenegro’s courts have repeatedly <a href="https://cointelegraph.com/news/montenegro-do-kwon-extradition-court">pushed decisions on Kwon’s extradition</a>, with no clear indication at the time of publication of whether he will remain in the country or be sent to either the US or South Korea.
In February, Montenegrin authorities extradited Han Chang-joon, Terraform’s former chief financial officer who was arrested with Kwon, to South Korea. In April, a US court <a href="https://cointelegraph.com/news/terraform-labs-do-kwon-liable-fraud-sec">found Terraform and Kwon liable</a> for fraud in a civil case filed by the Securities and Exchange Commission.
Magazine: <a href="https://cointelegraph.com/magazine/godzilla-vs-kong-can-sec-prevail-against-crypto-legal-firepower/">Godzilla vs. Kong: SEC faces fierce battle against crypto’s legal firepower</a>

Montenegrin court delays Do Kwon’s extradition to South Korea

Table of Contents

Cointelegraph

Other articles published on Aug 8, 2024

Ethereum ETFs Surge with $34M Inflow, BlackRock Hits Milestone

Ethereum ETF Inflows vs Bitcoin ETF Outflows: Analyzing Recent Trends

XRP Volume On South Korea Dominates Worldwide After SEC vs Ripple Lawsuit Ends!

SEC’s Case Against Ripple: A Pyrrhic Victory? Will XRP Soar or Stall?

BWA Pushes for Full Crypto Regulatory Framework in India Amid Finance Ministry’s No-New-Laws Stance

New York Judge Approves $12.7B FTX-Alameda Settlement

Join our free newsletter for daily crypto updates!