Do Kwon To Be Extradited to South Korea

Do Kwon To Be Extradited to South Korea
  • Terra founder Do Kwon will be extradited from Montenegro to South Korea to face criminal charges over the collapse of his crypto enterprise after March 23.
  • The Court ruling comes after the failed attempt to extradite him to the US
  • Do Kwon is facing multiple charges over the collapse of Terraform Labs

Embattled Terraform Labs co-founder Do Kwon is set to be extradited to South Korea following the failed extradition bid to the United States.

In South Korea, Kwon will face criminal charges concerning the May 2022 collapse of his multibillion-dollar crypto enterprise. The South Korean national successfully appealed an earlier ruling by the same court, which approved his extradition to the U.S.

Kwon’s hearing was initially scheduled for January 29 but was later postponed to this month due to uncertainty about his presence. It was believed that the delay would enable the authorities to extradite the fallen “crypto king” from Montenegro.

The SEC proposed April 15 as a new trial date to accommodate scheduling conflicts but Kwon’s lawyer did not want any delay later than March 18.

Kwon, through his lawyer, appealed to reject extradition to the U.S. and the request was granted a month ago by the Court of Appeals of Montenegro, overturning the decision made by Montenegro High Court.

His lawyer had argued that the “wording of the decision is incomprehensible”, a statement that the appellate court agreed with.

Is Kwon’s Case in the US Over?

Following Terra’s collapse, Kwon managed to evade South Korean authorities until he was arrested last year in Montenegro while attempting to travel with faked documents. Kwon was arrested alongside former Terra executive Han Chang-joon, who was extradited to South Korea in February.

Kwon will remain in Montenegro, serving a four-month sentence for possession of falsified documents. Following the sentence, he will likely be sent to South Korea.

Intricacies in legal hurdles are hard to overcome, even for regulatory bodies like the United States Department of Justice (DOJ). While the extradition bid to move Do Kwon to the US is at a standstill, there is no evidence that the embattled crypto pioneer will be let off the hook easily.

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