Do Kwon's Extradition to South Korea Halted by Montenegrin Supreme Court

New York, March 22, 2024 - The Montenegrin Supreme Court has issued an order halting the extradition of Terraform Labs co-founder Do Kwon to South Korea.

The decision overturns earlier rulings by two lower courts that had approved Kwon's extradition to face charges in his home country. The Supreme Court's order effectively puts a pause on the ongoing tug-of-war between South Korea and the United States, which is also seeking to extradite Kwon on criminal charges related to the collapse of the Terra ecosystem in May 2022.

Kwon has been in Montenegrin custody since March 2023, when he was arrested for attempting to use fake Costa Rican documents to travel to Dubai after months on the run.

The Supreme Court's decision comes after the Office of the Supreme State Prosecutor argued that the Appellate Court's decision to extradite Kwon overstepped its authority. The prosecutor claimed that the decision on where to extradite Kwon can only be made by the country's Minister of Justice.

The Supreme Court has ordered that Kwon's extradition be halted "until a decision is made."

Terraform Labs, the company founded by Kwon, is set to go on trial next week in the United States to face charges brought by the Securities and Exchange Commission.