🚨 Montenegro Court Rejects Do Kwon's Extradition Appeal
Recently, the Constitutional Court of Montenegro rejected the appeal filed by South Korean cryptocurrency tycoon and co-founder of Terraform Labs, Do Kwon, and upheld the previous extradition ruling. This also means he may soon be extradited back to South Korea or the United States, facing charges related to financial crimes.
As the central figure in the collapse of the TerraUSD (UST) stablecoin and its sister token Luna, this crash caused losses of up to $40 billion in the entire financial market. Given this situation, both the United States and South Korea wish to extradite Do Kwon and accuse him of fraud and market manipulation.
Since the collapse of TerraUSD and Luna last year, Do Kwon has been like an international fugitive, traveling through Singapore, the UAE, Serbia, and finally being arrested in Montenegro for attempting to travel with a fake passport.
The latest ruling from the Montenegro court has made Do Kwon's legal options increasingly scarce. Analysts predict that he is likely to be sent to the United States to face charges related to the collapse of Terra-Luna.
In addition, in June 2024, the U.S. Securities and Exchange Commission (SEC) imposed a massive civil fine of $4.47 billion on Do Kwon and Terraform Labs, which includes a hefty fine against Kwon personally, while prohibiting him from engaging in any cryptocurrency transactions, further complicating Kwon's legal situation.
Although the judgment has been issued, Do Kwon's legal team is still actively opposing extradition, especially to the United States, where the charges are more severe. Meanwhile, South Korea is also urging a swift resolution to this issue, as they are concerned that delays in the extradition process may infringe upon the human rights of their citizens.
In summary, whether Do Kwon will be extradited and the direction of his fate will depend on the final decision of the Montenegrin Minister of Justice regarding his next legal actions.
🗣 Conclusion:
There is no doubt that if Do Kwon is extradited to the United States, he will face charges and trials that are harsher than those from South Korean judicial authorities.
This also serves as a reminder for all parties in the industry to pay attention to legal compliance to avoid falling into similar predicaments.
💬 What do you think about the impact of this event? Where do you think Do Kwon will ultimately be extradited to? See you in the comments!
