Do Kwon, co-founder of Terraform Labs, is striving to delay his court proceedings in the United States while simultaneously resolving his legal issues in Montenegro to ensure his physical presence in the U.S. court.

Request for Postponement of Court Date

Do Kwon, the co-founder of #TerraformLabs , is requesting the federal court in the Southern District of New York to reschedule his court hearing to March due to complications related to his extradition from Montenegro.

 Kwon's Interest in Personal Attendance at the Court Process

In a letter dated January 11th, sent to Judge Jed Rakoff, Kwon’s legal team emphasized his desire to personally attend the court process, scheduled for January 29th. They expressed the hope that Kwon would be able to return to the USA in time: "Mr. Kwon wants to be personally at the court. His lawyers hoped that the extradition process in Montenegro would proceed more quickly."

 

 

SEC Accusations and Connection with the Collapse of TerraUSD

In February 2023, the SEC accused Kwon of fraudulent activities, alleging that he was involved in organizing a large-scale crypto currency fraud. The accusation is related to the collapse of the #TerraUSD (USTC) stablecoin of TerraformLabs and its associated token #Terra (#LUNA ).

Response of Kwon's Legal Team to the Urgency of the Process

Kwon's legal team acknowledged the urgency of the court process but stated that Kwon could not attend this month. "We understand that the court cannot be indefinitely postponed, but moving the date to mid-March could realistically enable Mr. Kwon to attend the process," the letter stated.

New Decision of the Appeals Court in Montenegro

In December 2023, it was announced that the appellate court in Montenegro overturned the decision to extradite #kwon either to the USA or to South Korea. This was revealed just a week after it was announced that U.S. and South Korean authorities requested his detention for an additional two months after the end of his custody.

Efforts of the USA and South Korea for Kwon's Extradition

Both the USA and South Korea are seeking Kwon's extradition, with speculations in both countries about the potential outcome of his case.

Kwon's Arrest and Forged Documents

Kwon was arrested in Montenegro in March 2023 after he attempted to leave the country with forged travel documents.

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