Kwon Do, a co-founder of Terraform Labs, is currently in a waiting period as Milović, Montenegro’s justice minister, deliberates on whether to request his extradition. Previously, the final decision regarding this matter was in the hands of the Supreme Court of Montenegro; however, it has now been transferred to the Ministers for consideration.
In March 2023, Kwon was apprehended utilizing false travel papers. Authorities in both the U.S. and South Korea are seeking his extradition, making him a suspect in the fraud incident that unfolded when TerraUSD failed to maintain its peg in May 2022.
Following the Supreme Court’s approval of Kwon’s choice to challenge the initial extradition order to South Korea, this decision adheres. However, details regarding any prospective appeals of the latest judgment by Kwon’s legal team have not been disclosed publicly.
Currently, Kwon is permitted to only move around Montenegro, as further investigations are underway and he cannot leave yet. In contrast, Han Chang-joon, the CFO of Terra, was one of the individuals transferred to South Korea back in February for legal proceedings there.
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2024-04-12 00:52