US prosecutors are set to challenge the Montenegrin High Court’s decision to send Do Kwon to South Korea, raising the potential for another U-turn in the Terraform Labs founder’s extradition process.
On Thursday, the court approved Kwon’s extradition to South Korea with even Kwon’s lawyers admitting that it was his most likely destination on March 23.
However, the US Justice Department told Bloomberg the same day that it will also continue to pursue Kwon’s extradition. It said, “The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law.”
Do Kwon and his ever-changing extradition status
Kwon’s extradition proceedings started back in March 2023 following his bodged escape to Dubai. Since then, his extradition has been repeatedly appealed, approved, and appealed again, with its status changing at least seven times since November 2023.
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Kwon faces charges in both South Korea and the US. However, the managing director of Swan Bitcoin, Terrence Yang, told Bloomberg he believes he should be extradited to the US due to the number of affected victims there following the $42 billion Terra/Luna collapse.
He said, “It seems a bit ridiculous for the Montenegro court to extradite Do Kwon to South Korea, where he might get acquitted or a comically light sentence as opposed to the United States.”
Do Kwon’s current extradition approval to South Korea can still be appealed but his lawyer reportedly made no suggestion that this is what he’ll do.
