A court decision authorizing the extradition of Terraform Labs co-founder Do Kwon to the United States or South Korea has been overturned by the Montenegrin Court of Appeal.
According to an official announcement dated December 19, the Montenegrin Court of Appeal decided on December 14 to annul the decision of the High Court of Podgorica, which authorized Kwon's extradition to one of the said countries.
Previously, in November 2023, the High Court of Podgorica had established the legal requirements for Kwon's extradition and left the final decision on his fate to the Minister of Justice of #Montenegro.
Following a successful appeal by Kwon's defense, the case will be transferred to the Podgorica Court of First Instance for retrial.
The Court of Appeal noted that the previous decision of the Podgorica High Court was overturned due to a "substantial violation of the provisions" of Montenegro's Criminal Procedure Code.
"The appeal of the defendant's defense counsel reasonably points to the violation, as the decision does not contain a fact-based justification and the reasons are not clear, which served as a basis for its reversal"the ruling said.
Kwon was arrested in Montenegro in September 2022 at the request of law enforcement agencies of the #USA and #South Korea. He was charged with fraud and abuse of power related to the financial operations of Terraform Labs.
Terraform Labs is a blockchain project that develops and maintains the #Terra (LUNA) cryptocurrency ecosystem. Kwon co-founded the project but left in 2021.
The legal battle surrounding Kwon's extradition has been a long-running one, and #Terraform Labs members expressed concern about the implications for the project's development.
After the decision to authorize #Kwon's extradition is overturned, his case will be sent back to the trial court for reconsideration. It is still unclear what the next steps in this legal fight will be and how it will affect the future of the Terraform Labs project.
