Terraform Labs Co-Founder Do Kwon Appeals Extradition From Montenegro To US Or South Korea

Updated: 06 December 2023

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Terraform Labs co-founder Do Kwon is appealing against Montenegro’s decision to extradite him to either the US or South Korea.

This development compels the Montenegrin Court of Appeal to reassess his case and determine his destination should he be extradited before a December 15 deadline.

It comes two weeks after Montenegro’s High Court approved Do Kwon’s extradition to either South Korea or the U.S. without specifying the final decision to be made by the Montenegrin Minister of Justice.

Do Kwon has expressed a preference for extradition to South Korea.

Do Kwon has appealed the extradition decision by the High Court in Montenegro's capital, Podgorica. As a result of Do Kwon's appeal, the Court of Appeal must review his extradition decision, but the chances of the court's extradition decision being overturned are very slim.…

— Wu Blockchain (@WuBlockchain) December 6, 2023

Do Kwon Sentenced to Prison in Montenegro

He was arrested and sentenced to four months in prison by a Montenegrin court after he used a forged passport at Podgorica airport to try to board a flight bound for Dubai.

Following his detention, both South Korean and U.S. authorities have actively pursued his extradiction.

The U.S. wants him on charges of securities fraud, wire fraud, commodities fraud, and conspiracy in connection with the collapse of his company, TerraLabs, in 2022.

He stands accused of being the mastermind behind the collapse of TerraUSD and Luna tokens, which resulted in a $40 billion loss to its investors.