A Montenegro Court Overturns Extradition Permit for Terraform Labs Co-founder Do Kwon
A Montenegro court has revoked the extradition permit for Do Kwon, co-founder of Terraform Labs. The Montenegro Court of Appeal ruled to annul the decision that approved Kwon’s extradition to the United States or South Korea. The court cited significant violations of criminal procedure provisions as the reason for revoking the decision.
The case will now be returned to the Podgorica Court of First Instance for retrial. It’s important to note that the court’s jurisdiction is limited to determining the legal prerequisites for extradition, while the decision on whether extradition will be postponed lies with the Minister of Justice.
Terra Luna Classic Token Price Surges Following Extradition Cancellation
Following the news of Kwon’s extradition cancellation, the price of the Terra Luna Classic (LUNC) token experienced a sharp increase of 18%. The coin’s price rose from $0.000150 to $0.000171, according to CoinMarketCap.
Suspicions of Corruption Surrounding Kwon’s Extradition Case
Some members of the crypto community suspect corruption in Do Kwon’s extradition case. One user pointed out that the Montenegrin court is known for its corruption and is considered one of the most corrupt courts in European countries.
Kwon Accused of Fraud Related to TerraUSD Collapse
Do Kwon is facing fraud charges related to the collapse of TerraUSD (UST) and LUNA tokens. The collapse of the Terra crypto project resulted in losses worth $60 billion for the crypto community.
Extradition Decision Reversed, Detention Extended
In November, the highest court in Podgorica approved Kwon’s extradition at the request of South Korean and American authorities. However, the decision on which country Kwon would be sent to was to be made by the Minister of Justice of Montenegro. It was later revealed that the High Court of Montenegro extended Kwon’s detention in mid-December.
Hot Take: Questions Surrounding Do Kwon’s Extradition
The cancellation of Do Kwon’s extradition permit raises questions about potential corruption in the case and highlights concerns about the integrity of the Montenegrin court system. As the retrial approaches, it remains to be seen how this high-profile extradition case will unfold and whether Kwon will ultimately face charges in the United States or South Korea.
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