Do Kwon, the founder of TerraForm Labs, is set to be extradited to South Korea to face charges related to the 2022 collapse of the Terra ecosystem. This comes after a Montenegrin appeals court rejected Kwon’s attempt to overturn a lower court decision favouring South Korea’s extradition request.
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Dueling Extradition Requests
The United States and South Korea sought Kwon’s extradition following his March arrest in Montenegro. Initially, a Montenegrin court sided with the U.S. However, Kwon’s lawyers successfully appealed, leading the court to name South Korea as the receiving country. South Korea argued their case was stronger due to the alleged crimes primarily occurring within their jurisdiction.
Final Decision Reached
The latest appeal by Kwon’s defence was denied, solidifying the decision for South Korea. Kwon’s lawyer confirmed this ruling cannot be appealed further.
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Uncertain Future Awaits
While a timeline for extradition remains unclear, Kwon faces multiple charges in South Korea. The U.S. may also pursue charges against Kwon despite the extradition outcome.
Kwon’s Tumultuous Year
Kwon has been under scrutiny since the Terra ecosystem’s collapse in May 2022. He reportedly attempted to evade authorities, moving between Serbia and Montenegro before being apprehended with fake travel documents in Montenegro.
End of a Legal Saga (for Now)
This latest development ends the legal battle over Kwon’s extradition. He will now face South Korean justice for his alleged role in the Terra ecosystem’s demise. The U.S.’s next steps regarding potential charges against Kwon remain to be seen.