Do Kwon, Terra’s founder, has so far escaped deportation. A Montenegrin court has decided… To overturn the previous handover decision. The decision came after an appeals court in Montenegro accepted Kwon’s defense arguments.
Charges and arrests in Montenegro
Do Quan, Terra’s former CEO, is currently trapped in Montenegro. He was arrested there on charges of possession of forged official documents. Both the US and South Korea have sought his extradition. They want to try Kwon in May 2022 for crimes related to the collapse of his crypto venture Terraform Labs.
A lot of people lost their money due to a bug in Terra’s mechanism. Kwon was charged with negligence, and there was even evidence that Kwon knew what was going on.
Kwon’s situation looked bleak in November
By November, things looked bleak for Kwan. The High Court in Podgorica ruled that the legal conditions for his extradition were met. However, Kwon’s defense appealed the decision, which was ultimately dismissed by an appeals court recently.
The reason the extradition was denied is significant: the trial judge did not ask Kwon about the U.S. extradition request, which is required by law. This procedural error has played a major role in recent developments, resulting in Guan’s non-deportation.
Kwon’s legal battle is far from over
While the decision may provide Kwon with temporary relief, her legal battle is far from over. If the courts ultimately decide to extradite him, the final decision rests with Montenegro’s justice minister. So it is exciting how this case will develop further. It is not yet known what will happen.
The case involving Do Kwon and Terraform Labs has been a hot topic of discussion in the crypto world. His arrest and subsequent legal developments show how the crypto world is increasingly intertwined with international laws and regulations. Since the collapse of Terra, the regulation of blockchains and cryptocurrencies has received increasing attention. This regulation is intended to protect investors and users from risks and hazards.
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