Do Kwon, Terra’s jailed co-founder, scored a rare victory when an appeals court in Montenegro overturned a lower court decision that extradited him to the United States for “serious violations of criminal procedure rules.” Kwon appealed the decision to extradite him to the United States last month. Following this news, the altcoin project’s tokens LUNC and LUNA saw a vertical rise.
Terra founder wins appeal, altcoin prices jump!
The saga of Terraform Labs co-founder Do Kwon continues to unfold as a court in Montenegro once again overturned a lower court decision to extradite the executive to the United States. The latest decision by the Montenegrin Court of Appeals is a key moment in the long-running extradition process. Following this news, the tokens of the Terra ecosystem began to rise. Terra Classic (LUNC) price jumped from $0.0001895 to $0.000284. The altcoin was trading up more than 24% on a daily basis at the time of writing.
In addition, the price of Terra (LUNA), the new token of the ecosystem, saw a stronger increase. LUNA was trading at $1.18 at the time of writing, up over 41% on a daily basis.
The court accepted Kwon’s appeal request!
cryptokoin.com As we reported, the Montenegrin Court of Appeals ruled on March 5 to annul the Podgorica Supreme Court’s decision approving Kwon’s extradition to the United States. According to the court, the Supreme Court in Podgorica had previously authorized the extradition of Kwon to the United States for criminal prosecution on February 20 for various crimes. The Court of Appeal panel argued that the previous decision of the Supreme Court in Podgorica was influenced by “significant violations of the criminal procedure provisions” of local laws. “There are no clear and valid reasons for the decisive facts regarding the order of the arrival request letter,” the delegation said in its statement.
The latest decision of the Montenegrin Court of Appeals marks another event in the long history of Kwon’s extradition process. Both the United States and South Korea soon requested Kwon’s extradition. This led to great debate about whether the founder of Terraform Labs should be sent to his country or not. The Montenegrin Court of Appeals previously revoked approval for Kwon’s extradition to the United States or South Korea. The court decided that the case should be returned to the Basic Court of Podgorica for retrial. The Supreme Court of Podgorica previously determined the legal requirements for Kwon’s extradition in November 2023. It also left the final decision on Kwon’s extradition to the Montenegrin Minister of Justice.
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