What’s happening with ex-Terraform CEO Do Kwon?

Do Kwon may be extradited to South Korea, and US authorities are reportedly unhappy about it

article-image

T. Schneider/Shutterstock modified by Blockworks

share

Former Terraform Labs CEO Do Kwon is set to be extradited to South Korea following a ruling from the High Court of Montenegro.

A spokesperson for the court spoke to multiple news outlets, explaining that the decision is final so long as Do Kwon’s legal team doesn’t appeal the ruling. 

Do Kwon, according to legal documents filed last month, sought to be extradited to his home country of South Korea over the US. However, a court in Montenegro believed that the US first requested extradition and therefore was prioritized. 

Read more: Terraform Labs founder Do Kwon faces US extradition: WSJ

“The Minister of Justice at the time the extradition requests were received in March and April 2023 publicly stated that the request from South Korea arrived first and that the most recent decision [made in February] of the High Court was erroneous,” Kwon’s lawyer Goran Rodić wrote last month.

Kwon’s team appealed the decision because they claimed the US was not the first country to make the request. The court sided with them, vacating the prior decision

The US Department of Justice confirmed to Bloomberg that the US plans to contest the extradition ruling. 

Read more: Do Kwon’s lawyers don’t expect a US extradition by March

“The United States continues to seek Kwon’s extradition in accordance with relevant international and bilateral agreements and Montenegrin law,” the DOJ told Bloomberg late Thursday. 

South Korea, meanwhile, told the media outlet that they had yet to hear from Montenegro officially. The Block reported Thursday that South Korean authorities sought assistance from Interpol to aid with the extradition.

The Securities and Exchange Commission’s case against Terraform Labs and Kwon is set to go to trial on March 25. The date was pushed back from the end of January so that Kwon could attend. However, his lawyers — in a court filing last month — said that the extradition was taking longer than expected. 

Kwon was arrested in Montenegro a year ago — in March 2023 — for forged documentation, including a fake passport. 

Kwon’s lawyers did not return a request for comment.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

ao cover.jpg

Research

Arweave recently launched the testnet for AO computer, a new messaging protocol that will sit atop a PoS network and aims to become a scalable global compute platform through parallel processing and modularity.

article-image

The “fastest-growing ETF in history” has seen net inflows on every trading day since its Jan. 11 launch

article-image

Relm and Chainproof will provide insurance quotes to distributed validators

article-image

DLC.Link uses a Taproot-based Bitcoin multisig to let institutions mint dlcBTC, starting on Arbitrum

article-image

Pre-seed Bitcoin startup deals rose 360% in 2023, a TVP report shows

article-image

Circle’s new smart contract to allow holders of BlackRock USD Institutional Digital Liquidity Fund to redeem shares for its stablecoin

article-image

Uniswap says it was not surprised to receive a Wells notice given the SEC’s “abusive” use of power as of late