In a determined effort, the United States government is actively pursuing the extradition of Terraform Labs co-founder Do Kwon to his home nation, South Korea, despite a Montenegrin court’s recent order directing his deportation. The move follows a Bloomberg report revealing the unwavering commitment of U.S. prosecutors to hold Kwon accountable for his alleged involvement in the $40 billion collapse of the TerraLuna ecosystem in May 2022.
The Department of Justice released a statement emphasizing the United States’ ongoing pursuit of Kwon’s extradition, citing adherence to pertinent international and bilateral agreements, as well as Montenegrin law. The department expressed gratitude for the cooperation of Montenegrin authorities in upholding the rule of law.
This determination by the U.S. Justice Department coincides with a significant development in Montenegro, where the Appellate Court reversed a prior decision by a high court to extradite the former Terraform Labs CEO to the United States. The appellate court cited substantial violations of criminal procedure provisions as grounds for its decision.
Kwon’s extradition saga has been marked by legal twists and turns, with this latest decision representing the third favorable outcome for his legal team. Earlier victories were secured in December and February, when Kwon successfully appealed against a Montenegrin high court’s extradition rulings due to inaccuracies in the application of legal provisions related to extradition procedures.
In response to the recent turn of events, the National Police Agency of South Korea has sought assistance from Interpol to facilitate Kwon’s extradition to the country. However, Interpol has yet to provide a response to the request.
The possibility of Kwon’s extradition to South Korea is perceived as a strategic advantage for the crypto mogul, as it is believed he may leverage his connections in the country to secure a more lenient sentence compared to what he might face in the United States. These speculations gain further support from statements made by Kwon’s legal team expressing a preference for his extradition to his home country.
Despite potential benefits in South Korea, it is anticipated that Kwon will inevitably face legal consequences in the United States, likely following any sentence served in his home country. The unfolding events come approximately two years after the collapse of Terra, during which Kwon remained in hiding before being apprehended at a Montenegro airport for using counterfeit documents.
