Terraform Labs Co-founder Appeals Extradition Ruling

Do Kwon, co-founder of Terraform Labs, has initiated his last-ditch effort to appeal a ruling by a Montenegrin court that could result in his extradition from the nation.

Local state media reported on December 6 that Kwon’s attorneys had formally appealed the High Court of Podgorica’s November 24 decision authorizing Kwon’s extradition to South Korea or the United States, pending a final determination by the Montenegrin Ministry of Justice.

Do Kwon said he consented to being extradited to South Korea. Source: Podgorica High Court

Subsequently, the initial extradition order will be reassessed, and the appeal will be considered by the Ministry of Justice, which has set a definitive decision regarding the matter for December 15.  that, according to a statement from the High Court of Podogrica, he would rather be extradited to South Korea than to the United States.

On September 28, Kwon’s attorneys initially responded to U.S. extradition requests by asserting that it would be “impossible” to extradite the troubled co-founder prior to October 13 on account of his continued detention in Montenegro.

The U.S. Securities and Exchange Commission charged both Kwon and Terraform Labs on February 17 with “orchestrating a multibillion-dollar crypto asset securities fraud.”

On March 23, at the Podgorica airport, Kwon and former Terraform Labs chief financial officer Han Chong-joon were apprehended for attempting to depart for Dubai with forged travel documents.

On June 15, Kwon was subsequently apprehended in Montenegro for extradition and sentenced to six months in prison pending a court decision regarding his extradition to either the United States or South Korea.