Quick Takes:
- Montenegro’s court of appeals has decided to extradite Terraform Labs’ Do Kwon to South Korea instead of the U.S.
- Both nations sought Kwon for charges linked to the $40 billion collapse of Terra/LUNA, sparking 2022’s crypto meltdown.
Yello Paradisers! Do Kwon, the infamous co-founder of Terraform Labs, has become a celebrity of the legal world in a manner he never would have wished for.
After a global game of cat and mouse that would put most spy thrillers to shame, Montenegro has decided to send him back to his native South Korea, sidelining the U.S.’s request for a piece of the legal action.
Legal Twists in the Balkans
The Appellate Court of Montenegro has confirmed an earlier decision to favor South Korea in the extradition race, putting a temporary end to a legal tug-of-war.
Kwon’s escapades began after the dramatic $40 billion Terra/LUNA implosion, which was the first domino in 2022’s catastrophic crypto crash sequence that later claimed FTX among its victims.
After a stint on the run and an ill-fated attempt to use a bogus Costa Rican passport in March 2023, Kwon found himself in a Montenegrin cell, swapping his crypto tokens for a prison uniform. Initially sentenced to four months for the passport fiasco, he was released on bail but grounded in Montenegro without his real passport, which was confiscated to keep him from adding any new stamps to his collection.
What’s Next for Kwon?
The saga’s finale now rests in the hands of Montenegro’s Minister of Justice, following a rollercoaster of court decisions and a surprising twist involving the Prime Minister’s personal investment in Terraform Labs. No departure date for Kwon is set, leaving the crypto world watching closely as Montenegro pens the next chapter in this blockbuster extradition tale.
