The extradition of Do Kwon, co-founder of Terraform Labs, to either the United States or South Korea has been overturned by the Supreme Court of Montenegro. In a notice on April 5, the Supreme Court stated that it had granted a request for a protection of legality against a lower court decision that would have allowed Kwon’s extradition to South Korea. Prosecutors argued that the appellate court had violated procedure by rejecting an appeal from Kwon’s legal team, leading to the final decision being passed to the Supreme Court.
The ruling stated that in cases where there are competing extradition requests from two states for the same person, the court’s responsibility is to determine whether the legal conditions for extradition have been met for each petition individually. The competent minister, not the court, then decides on the permission and order of priority of extradition. As a result, the Supreme Court has sent the decision of Kwon’s extradition back to the High Court in Podgorica, which will now decide whether he will be sent to the U.S. or South Korea.
Kwon is facing criminal charges in both countries, but has been in Montenegro since his arrest in March 2023 for using falsified travel documents. Until the courts reach a decision on his extradition case, Kwon is reportedly free to travel within Montenegro.
Meanwhile, in Kwon’s absence, the U.S. Securities and Exchange Commission has proceeded with a jury trial against Terraform Labs and the co-founder. The trial began in March, and some of Kwon’s previous statements have been presented as evidence. The case is still ongoing.
While Kwon remains in Montenegro, Han Chang-joon, Terraform Labs’ former chief financial officer who was also arrested in March 2023, has been extradited to South Korea. South Korean authorities have also indicted several individuals connected to Terraform Labs, including co-founder Hyun-seong Shin.
In other news, a team known as ‘SEAL 911’ has been formed to combat crypto hacks in real time. The team, made up of white hat hackers, aims to protect the crypto industry from cyberattacks.