Do Kwon Wins Second Chance to Appeal Extradition From Montenegro

The appeal is a minor victory for Kwon, who initially won an appeal in November only for it to be subsequently overturned.

AccessTimeIconFeb 8, 2024 at 1:30 p.m. UTC
Updated Feb 8, 2024 at 2:10 p.m. UTC
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  • The Montenegrin High Court decided for a second time in December that extradition requests for Do Kwon held up.
  • Kwon's lawyer told CoinDesk last month that his client would be appealing the High Court's decision.
  • Former CFO at Terraform Han Chang-Joon was extradited to South Korea by Montenegrin authorities on Monday.

Terraform Labs co-founder Do Kwon has won a second appeal against the Montenegro High Court's decision to uphold extradition requests from the U.S. and South Korea.

Kwon initially won an appeal in November to overturn the High Court’s decision in favor of the extradition requests. The same court then decided at the end of December that the requests held up.

The Terraform Labs co-founder’s lawyer told CoinDesk last month that his client would be appealing the High Court's decision. Goran Rodic said in an interview that local courts were facing political pressure in order to push the extradition through.

Kwon’s former CFO at Terraform Han Chang-Joon was extradited to South Korea by Montenegrin authorities on Monday. The latest appeal, represents a significant achievement in postponing a similar fate for Kwon.

After Terraform Labs' stablecoin TerraUSD collapsed in May 2022, authorities in Kwon's native country, South Korea, and the U.S. brought criminal charges against him.

He was arrested in Montenegro last year for possession of falsified official documents and sentenced to four months in prison. While Kwon is serving his sentence, Montenegrin authorities must approve his extradition and decide the destination.

UPDATE (Feb. 8, 14:10 UTC): Adds dropped word in second bullet point.

Edited by Parikshit Mishra.




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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.


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