• Montenegro court denies Do Kwon appeal and allows the Justice Ministry to handle the extradition decision.
  • Do Kwon extradition to the US may align with Montenegro national interests, analysts say.
  • South Korea and the US compete for Do Kwon extradition as Terra Luna legal issues grow.

The Constitutional Court of Montenegro has rejected an appeal from Kwon Do-hyeong, known as Do Kwon, co-founder of Terraform Labs. The decision, announced on Dec. 24, upheld the Justice Ministry’s authority to oversee his extradition process. This ruling marks a critical development in Kwon’s ongoing legal battles.  

Do Kwon’s Legal Maze Narrows: What It Means for Crypto

Montenegro’s Constitutional Court has rejected Do Kwon’s appeal, putting his extradition closer to reality.

The decision hinges on whether he’ll face trial in the U.S., a move that could set a precedent for global crypto… pic.twitter.com/rWrV3FwuBO

— Crypto Town Hall (@Crypto_TownHall) December 25, 2024

Kwon is accused in the $34.26 billion Terra-Luna cryptocurrency crash . He fled South Korea in 2022, journeying across many countries, including Singapore and Serbia. However, he was detained in Montenegro over a failed attempt to use a forged passport. His extradition proceedings have attracted considerable international attention.  

Court Ruling Clears Justice Ministry’s Path  

The court found no violation of his rights to a fair trial or family life. His legal team had challenged a Supreme Court decision that nullified his transfer to South Korea and granted extradition authority to the justice minister. 

This ruling gives Montenegro’s Minister of Justice, Bojan Božović, full discretion in deciding Kwon’s extradition destination. Reports also suggest authorities may lean toward transferring him to the United States instead of South Korea. Analysts believe national interests could shape this decision.  

Ongoing Legal Hurdles  

South Korea’s Supreme Prosecutors’ Office has repeatedly opposed his return to Seoul. This opposition bolsters speculation about a U.S. extradition. Meanwhile, Kwon’s legal team plans further measures to block a U.S. transfer.  

South Korea’s Ministry of Justice and its embassy in Serbia have pressed Montenegro for expedited proceedings. They argue that delays could raise human rights concerns. Moreover, the timeline for Kwon’s extradition remains uncertain.  

Accusations and Financial Impact  

Kwon is accused of causing massive financial losses linked to TerraUSD (UST) and its token Luna. His alleged actions impacted millions of investors globally. Moreover, the ongoing extradition process will determine where he faces justice for these allegations.

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