Terraform Labs co-founder Kwon Do-hyung, commonly known as Do Kwon, has mounted a legal challenge against his extradition, as confirmed by the Montenegrin Court of Appeal on December 6. This appeal, first reported by Korean news outlet Digital Asset, follows the High Court of Podgorica’s decision to extradite Kwon, once one of the most influential figures in the crypto space, to either South Korea or the United States.
The appeal, lodged just two weeks after the High Court’s extradition approval, introduces significant uncertainty into the proceedings. The High Court, in its November 24 statement, had approved the extradition request made by South Korea and the United States but left the final determination of Kwon’s destination to the discretion of the Montenegrin Minister of Justice.
Kwon’s appeal is rooted in his firm stance against the court’s ruling. He stated, “I do not accept the court’s decision to extradite me, so I do not submit to the court’s decision.” This mandatory reexamination by the Montenegrin Court of Appeal complicates the Ministry of Justice’s ability to finalize a decision on his extradition before the December 15 deadline.
The extradition saga dates back to June 15, when Kwon was detained in Montenegro for a six-month period, pending a decision on his extradition. Do Kwon was detained in late March, together with Han Chang-Joon, the former finance officer of Terraform Labs, while attempting to board a flight to Dubai at Podgorica airport in Montenegro’s capital. The Terra Luna founder was subsequently charged with forging official documents.
During the extradition trial, Kwon had expressed a preference for extradition to South Korea, a sentiment reiterated in the court’s press release.
What’s Next For Do Kwon?
Local legal experts and observers in Montenegro view the chances of overturning the extradition decision as minimal. A Montenegrin journalist familiar with the situation commented to Digital Asset, “The general belief among Montenegrin government and judiciary officials is that Kwon Do-hyung’s continued detention in Montenegro is attracting undue international attention.”
Marija Rakovic, press officer of the Podgorica High Court, further explained the proceedings in a statement to Digital Asset, stating, “Once an appeal is submitted, as in the case of Kwon Do-hyung, it is the duty of the Montenegrin Court of Appeal to reevaluate and make a decision on the extradition.” This statement underscores the procedural norms being followed in this high-profile case.
As the cryptocurrency community watches closely, the Montenegrin Court of Appeal’s forthcoming decision holds significant implications. It will determine whether Kwon faces legal proceedings in South Korea or the United States, both countries having a vested interest in the case due to the impact of the Terra Luna collapse on the global cryptocurrency markets.
The next pressing question is what will happen to Do Kwon after December 15, the date marking the expiration of his current detention period.
At press time, the LUNC price stood at $0.0002171.
Featured image from Reuters, chart from TradingView.com