In a significant legal turn, the Appellate Court of Montenegro has revoked the extradition approval for Do Kwon, the founder of Terraform Labs, citing procedural irregularities in the November decision. The move follows an appeal by Kwon’s defense attorneys and introduces complexities to the ongoing extradition requests from the United States and South Korea.
Despite the reversal, Kwon’s fate remains uncertain as the legal saga continues, with his detention extended until mid-February, according to reports from Bloomberg last week. The Appellate Court’s decision to nullify the High Court’s extradition approval points to a substantial violation of the Criminal Procedure Code during the November 17 decision.
The court emphasized a lack of clear reasons and facts, particularly in the handling of the US extradition request. Notably, the investigating judge failed to adequately inform Kwon of the reasons and evidence behind the US request, breaching legal requirements. As a result, the case has been remanded to the initial court for retrial.
The legal battles surrounding the collapse of the Terra ecosystem in May 2022 have triggered extradition charges against Do Kwon. The collapse resulted in a staggering $40 billion market loss. Kwon, along with Terraform Labs’ CFO Han Chang-Joon, faced apprehension in Montenegro last March after evading authorities in Asia and Europe.
The extradition process has been marked by Kwon’s initial arrest for attempting to use falsified passports, subsequent imprisonment, and ongoing legal disputes, culminating in the recent decision by the Appellate Court.
This latest development adds layers of complexity to Kwon’s legal predicament, raising questions about the extradition process and leaving the global cryptocurrency community eagerly anticipating the outcome of the retrial in Montenegro.
Legal Twists: Do Kwon’s Extradition Uncertainty Continues
Do Kwon’s legal fate enters a new phase following the Appellate Court’s extradition revocation, citing procedural flaws. With a retrial in Montenegro on the horizon, the intricacies of Kwon’s case pose uncertainties for Terraform Labs’ founder and resonate throughout the cryptocurrency community. The outcome of this legal odyssey carries implications for the broader crypto landscape, emphasizing the evolving challenges within the industry.
Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
