The founder of Terraform Labs, the crypto company behind the collapse of Terra (LUNA), has won an appeal in Montenegro for extradition to the United States.
According to a statement from the Montenegrin Court of Appeal, the decision to extradite Terra founder Do Kwon to the US or South Korea has been reversed.
Kwon was initially arrested by authorities in Montenegro in late March for using a fake Costa Rican passport, although he argued in court that he obtained the passport through a legitimate agency.
At the time, Montenegro was reportedly considering extraditing Kwon to the US. Montenegro’s Justice Minister Andrej Milovic has reportedly expressed a preference to send Kwon to the US rather than South Korea, which also wants to prosecute him.
Both the US and South Korea want him extradited to face fraud charges linked to the $40 billion collapse of the Terra ecosystem in 2022.
After a court in Montenegro approved Kwon’s extradition to both countries, Kwon appealed the ruling. After winning the appeal, the Court of Appeal ordered a retrial at the Podgorica Basic Court, as a judge refused to hear Kwon’s arguments.
Montenegrin Justice Minister Andrej Milovic will make the final decision on where Kwon is extradited, if at all.
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