An appellate court in Montenegro overturns an earlier ruling that approved the extradition of disgraced Terraform Labs founder Do Kwon to the United States.
Kwon is facing criminal charges arising from the collapse of the stablecoin TerraUSD and cryptocurrency Luna that wiped out $40 billion worth of investor funds in 2022.
In March last year, Kwon was arrested in Montenegro after attempting to board a flight to the United Arab Emirates (UAE) using a forged Costa Rican passport.
The US and South Korea both sought Kwon’s extradition, but a Montenegrin high court decided in February that the 32-year-old would only be handed over to American authorities.
In a new statement, the appellate court says it is revoking the February decision because of procedural issues regarding which country first filed the extradition request.
The court of first instance says the extradition request from the USA came on March 27th, a day earlier before the request from South Korea arrived, but the appellate court says authorities from Kwon’s native country sent an email requesting extradition as early as March 24th.
“Deciding on the appeal of the defendant’s defense attorneys, the panel of the Appellate Court assessed that the decision was affected by significant violations of the provisions of criminal procedure from Article 386 paragraph 1 points 8 and 9 of the CPC, because there are no clear and valid reasons for decisive facts regarding the order of arrival request letter.”
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