The High Court has extended the detention of Terraform Labs co-founder Do Kwon in his extradition fight over the TerraUSD debacle.

According to a recent announcement by Terraform Labs co-founder Do Kwon, the Montenegrin High Court has extended his detention. Kwon's detention was originally scheduled to expire on Friday and has now been extended for another two months, until February 15. The extension comes as both the United States and South Korea are actively seeking the extradition of Do Kwon. They accuse him of being involved in the 2022 collapse of the famous algorithmic stablecoin TerraUSD.

Do Kwon appeals extradition decision

Do Kwon reportedly challenged the Montenegrin court’s extradition decision and filed an appeal on December 6. The legal move requires the Montenegrin Court of Appeal to reassess the extradition ruling. While local sentiment suggests the chances of overturning the decision are slim, the process is unfolding and global attention is focused on the outcome.

Court spokeswoman Marija Rakovic stressed that individuals in extradition cases have the right to challenge the court's decision, adding another layer of complexity to an already convoluted legal situation.

Extradition destination: Jurisdiction issues

Although the extradition decision has been approved, the final decision on whether Do Kwon will be sent to South Korea or the United States remains to be determined, a decision to be made by the Montenegrin Minister of Justice. Do Kwon expressed a preference for extradition to South Korea during his trial, a factor that could affect the final decision. However, the SEC's interest in extraditing him further increases the scope of deliberations.

Montenegrin legal authorities and Do Kwon’s legal team are working to address these challenges and find a solution. Given the high profile of this case, it has attracted a great deal of attention, affecting the litigation process and the strategies of the parties involved.

The case highlights the growing intersection between international law and the rapidly evolving cryptocurrency industry. The attention it has received underscores the global impact of legal issues related to cryptocurrencies and the challenges of addressing them in different jurisdictions. #DoKwon  #拘留延期