Montenegro appeals court overturns a decision to extradite Terraform Labs founder to the US
An appeals court in Montenegro has overturned a ruling that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea
PODGORICA, Montenegro (AP) — An appeals court in Montenegro has overturned a recent ruling that a cryptocurrency mogul, Terraform Labs founder Do Kwon, should be extradited to the United States to face fraud charges rather than to his native South Korea, the court said Tuesday.
Kwon, 32, was arrested nearly a year ago in Montenegro on an international arrest warrant in connection with a $40 billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world. Both South Korea and the U.S. have requested Kwon’s extradition from Montenegro.
Last month, the High Court in Montenegro decided to hand over Kwon to the U.S. But the Court of Appeals annulled the decision and ordered the lower court to repeat the process. The Appeals Court in a statement cited procedural issues over who was the first to file a request, the U.S. or South Korea.
It wasn't immediately clear when the final decision could be made.
