The High Court in Montenegro has recently made a significant ruling in the case of Do Kwon, the co-founder of Terraform Labs. The court has decided to extradite Kwon to the United States, rejecting South Korea’s extradition request and allowing him to face fraud charges related to the collapse of the UST stablecoin.
Kwon was arrested in Montenegro in March 2023 for using a counterfeit passport while attempting to leave the country. Initially, he had agreed to be extradited to South Korea, but his legal situation changed as he faced challenges, including a prison sentence for document forgery. Despite Kwon’s legal team’s efforts to challenge the extradition order, the high court has now decided to extradite him to the US.
This ruling comes amidst fraud accusations by the Securities and Exchange Commission (SEC) against Kwon and Terraform Labs. The SEC alleges that Kwon raised billions through unregistered crypto transactions involving securities. The jury trial for these claims has been postponed to late March, giving Kwon’s legal team time to navigate the complexities of his extradition.
The outcome of this case is being closely monitored by stakeholders in the crypto community and beyond, as it could have implications for regulatory oversight and investor protection. The High Court’s decision to extradite Kwon marks a pivotal moment in his legal battle, and he will now face charges in the US. Share this article and stay updated on the latest developments in this case.
