The Montenegrin Court’s cancellation of Terra (LUNA) founder Do Kwon’s extradition to the US has thrilled the cryptocurrency community. Bloomberg reported procedural issues and extradition confusion affected the court’s decision. Following this announcement, the price of LUNC started to rise. Terra’s former CEO Do Kwon was arrested in Montenegro for allegedly posing with fraudulent ID while boarding an airliner. The purpose was to extradite him to the US after his Montenegrin conviction. The Podgorica Court allowed his extradition.
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Do Kwon objected to this ruling; thus, the Montenegrin Court of Appeals remanded the extradition matter to Podgorica for a second trial. Courts in Montenegro decide whether to extradite Do Kwon. The National Justice Minister will decide whether the plan passes.
The US and South Korea want Do Kwon extradited for the May 2022 Terra crash. The Montenegrin Appeals Court reversed the High Court’s November 17 extradition order for procedural errors. The court considered Do Kwon’s extradition judgment inadequate due to imprecise explanations. The Appeals Court overruled the High Court’s decision and sent it to Podgorica’s Primary Court.
Meanwhile, the Appeals Court denied extraditing Do Kwon’s accomplice Hon Chang Joon to the US or South Korea. The Montenegrin court upheld Kwon and Joon’s 4-month sentences. Do Kwon avoided capture for months following the Terra (LUNA) catastrophe before his extradition. on March 23, 2023, at Podgorica airport for using fraudulent Costa Rican IDs to fly to Dubai.
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American and South Korean extradition requests to Montenegro. SEC accused Terra ecosystem of marketing itself as a securities investment and bitcoin fraud by unscrupulous individuals.
Do Kwon Faces Dual Extradition Challenges Amid Legal Complexities
Do Kwon, who initially submitted to an accelerated extradition procedure, faced regular judicial proceedings due to the two nations’ simultaneous extradition demands. Montenegrin Court of Appeals’ ruling complicates Terra founder’s argument.
The Appeals Court ordered a new trial when Kwon claimed he had counterfeit documents. The judgment suggests legal complexities. US and South Korean extradition requests related to Terra’s collapse are pending. The court’s decision affects Hon Chang Joon. Kwon’s fate is uncertain; therefore, the cryptocurrency industry impatiently awaits legal progress.