Montenegro Appeals Court Reverses Decision to Extradite Do Kwon to South Korea

Montenegro Appeals Court Reverses Decision to Extradite Do Kwon to South Korea

Montenegro Withdraws Extradition Order for Do Kwon Montenegro's Appeals Court has withdrawn its previous order to extradite Do Kwon, a key figure in the Terra-Luna crash, to South Korea. The court announced on Friday that the case against Kwon would be returned to the lower court for retrial and sentencing. This reversal comes after the Ministry of Justice met with SEC officials to discuss the investigation into Kwon and the protection of cryptocurrency investors. The SEC's findings on Kwon's investigation were submitted to Minister of Justice Andrija Milović. Though the specific content of the discussions was not disclosed, experts believe it may signal progress in the extradition negotiations. Background on Do Kwon and Terra-Luna Crash Do Kwon is the co-founder of Terraform Labs, the company behind the Terra-Luna cryptocurrency ecosystem. In May 2022, the Terra-Luna ecosystem collapsed, wiping out billions of dollars in investor funds. Kwon has been accused of fraud and is facing charges in both South Korea and the United States. Implications of the Appeals Court Decision The Appeals Court's decision to withdraw the extradition order is a significant development in the case against Kwon. It is unclear if the lower court will reach the same decision to extradite Kwon, and the case could potentially be further appealed. The outcome of the case will have implications for the cryptocurrency industry and the regulation of digital assets.