The founder of Terraform Labs, Do Kwon, is set to be extradited to South Korea after the Montenegro appeals court confirmed the decision to dismiss his appeal. This ruling solidifies Kwon’s legal obligation to face criminal charges in South Korea, where he is accused of fraud and violating capital markets law, potentially facing a 40-year prison sentence.
The United States was also pursuing Kwon’s extradition for separate charges related to fraud and market manipulation linked to the collapse of the Terra ecosystem, amounting to $40 billion. However, the court ruled that South Korea’s extradition request takes precedence due to its earlier submission and compliance with legal requirements.
Kwon’s legal representative, Goran Rodic, stated that this decision is final, closing the door on any further appeals by Kwon or the US. While a specific extradition timeline has not been established, the process is moving forward, marking a significant development in the international legal saga surrounding the Terraform Labs founder.
This decision comes after Kwon’s arrest in Montenegro on March 23 for possessing fake travel documents, leading to a series of legal challenges and extradition requests. As the case progresses, Kwon’s path now leads to South Korea, where he will face the charges against him, bringing one chapter of this complex legal battle to a close.
