The Montenegrin Court of Appeals halted the extradition of Terra founder Do Kwon. Thus, revealing legal twists in the high-stakes cryptocurrency drama. Meanwhile, the legal saga surrounding Kwon, who was initially detained on charges of forging documents, has taken a new turn. This reversal in particular highlights the complexities surrounding the high-profile cryptocurrency entrepreneur. Following this development, the tokens of the Terra ecosystem recorded double-digit increases.
The latest development in the extradition decision of Terra founder Do Kwon
The Montenegrin Court of Appeals took an important step by accepting the appeal of Do Kwon’s defense lawyers. The court annulled an earlier decision of the Supreme Court in Podgorica, which had approved the extradition of a citizen of the Republic of South Korea to face criminal charges in both South Korea and the United States. Following this development, the tokens of the Terra ecosystem, LUNC, LUNA and USTC, made a vertical ascent to the north. LUNA jumped from $ 0.92 to $ 1.01 during the day. LUNC jumped from $0.000153 to $0.000173. The tokens witnessed a rise of up to 15%. Similarly, stablecoin USTC also recorded a double-digit increase.
Meanwhile, cryptokoin.comAs you follow from, in the Supreme Court’s first decision dated November 17, 2023, it was determined that the legal preconditions for the extradition of Do Kwon were met. However, after examining the appeal, the Montenegrin Court found a significant violation of the criminal procedure provisions. This led to him rescinding the decision. In particular, the panel highlighted the lack of clear reasons for decisive facts, a flaw that led to the decision to retrial. For context, Terra founder Kwon was arrested in Montenegro on charges of forgery of official documents. Then the court sentenced him to prison. Both the United States and South Korea have sought the extradition of Kwon for his alleged involvement in the May 2022 collapse of Terraform Labs, a multibillion-dollar crypto company.
A closer look at the report
In its detailed statement, the Court of Appeals pointed out that the decision to postpone Do Kwon’s extradition due to his prison sentence was handled incorrectly by the Supreme Court. The court also clarified that such determinations fall within the exclusive jurisdiction of the Minister of Justice, not the court overseeing the extradition process. The court found this violation significant and annulled the decision.
The Court of Appeal also criticized the Supreme Court for failing to comply with Article 16, paragraph 8, of the Law on International Judicial Assistance in Criminal Matters. According to the latest notification, the investigating judge’s failure to promptly inform Terra founder Do Kwon of the grounds for extradition and invite him to present his defense was described as a clear violation of legal procedures. Therefore, given the latest developments, if the extradition ultimately receives approval in subsequent court processes, the final decision lies with the Montenegrin Minister of Justice. The resulting legal drama adds an extra layer of tension to Kwon’s future. Thus, it underscores the complex intersection of law, crypto regulation and international jurisdiction.
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