Do Kwon, one of the co-founders of Terraform Labs, has prevailed in a retrial of the Montenegro High Court’s ruling to maintain the extradition demands of the United States and South Korea.
In an effort to reverse the High Court’s ruling in support of the extradition demands, Kwon first prevailed in an appeal in November. The requests were deemed valid by the same court at the end of December.
According to the co-founder of Terraform Labs’ attorney, his client will be challenging the High Court’s ruling. In an interview, Goran Rodic stated that local courts were under political pressure to expedite the extradition process.
Han Chang-Joon, Kwon’s former CFO at Terraform, was extradited to South Korea on Monday by Montenegrin authorities. The most recent appeal is a noteworthy success in averting Kwon’s comparable fate.
Kwon was charged with a crime by American and South Korean authorities following the collapse of Terraform Labs’ stablecoin, TerraUSD, in May 2022.
After being found in possession of forged government documents in Montenegro last year, he was given a four-month prison sentence. Authorities in Montenegro must authorise Kwon’s extradition and choose his destination while he is serving his sentence.