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The Montenegro Appellate Court rejected Do Kwon’s appeal on impending extradition to South Korea. Kwon was arrested last year following the collapse of Terra Luna and its stablecoin UST in 2022. Do Kwon, wanted for prosecution over his role in the implosion that sank Terra, will now be extradited to South Korea. Montenegro court rejects Kwon’s appeal Today, the Appellate Court of Montenegro declined Kwon’s appeal that sought orders quashing his extradition to South Korea. The appeal s court noted, according to an announcement on March 20, that its decision was final. He will not go to the United States or stay in Montenegro, where he was arrested in 2023. Rather, Kwon will now be deported to South Korea where he faces criminal charges in connection to the collapse of Terra LUNA and the algorithmic stablecoin Terra USD (UST).  The $40 billion implosion resulted in a massive contagion across crypto, with crypto hedge fund Three Arro...

The founder of Terraform Labs is fighting a court order mandating his extradition to either South Korea or the U.S. for criminal prosecution. Do Kwon, a former international fugitive, submitted an appeal on Dec. 6, contesting the approval of his extradition issued by a High Court of Podgorica, Montenegro’s capital city.  The Terraform Labs founder reportedly stated that he does not submit to the court ’s ruling on his transfer to South Korea, his home country, or the U.S., where he is embroiled in litigation with the Securities and Exchange Commission (SEC).  Authorities must now consider his appeal and review the initial extradition order. Kwon’s filing at a Montenegrin Court of Appeal was submitted 11 days before authorities were set to decide his extradition destination on Dec. 15.  A Podgorica court previously ordered his removal from the country as crypto.news reported, following his incarceration in a Balkan prison for travel document forgery. You might a...