As a seasoned researcher with a keen interest in the intersection of law and technology, I find myself intrigued by the latest development in the saga of Do Kwon, the enigmatic co-founder of Terraform Labs. The news that Montenegro’s Minister of Justice has signed an order for his extradition to the United States marks a significant turn of events in this drawn-out legal drama.
In a final move following lengthy court battles, Bojan Božović, Montenegro’s Minister of Justice, has officially authorized the extradition of Do Kwon, co-founder of Terraform Labs, to the United States. This decision was verified to the Montenegrin newspaper Vijesti on Friday, signaling an end to months of legal disputes between the United States and the Republic of Korea, as both nations sought to prosecute Do Kwon for his controversial business activities.
Do Kwon Will Be Extradited To The US
Previously, the Montenegrin Supreme Court found that all necessary legal requirements for the extradition of Do Kwon had been fulfilled following separate requests from both South Korea and the U.S. This decision allowed Minister Božović to examine the details and choose which country’s jurisdiction would have precedence in this case.
According to a statement given to Vijesti, the Department of Justice has taken into account the Supreme Court’s decision, weighed various factors including the nature and severity of the crimes, their location, the sequence of requests, the nationality of the individual requested, potential additional extraditions, and other relevant circumstances, before making their determination.
Based on the previous points, it was decided that the majority of the legal requirements presented favor the extradition demand from the U.S. authorities, and South Korea’s Minister of Justice has made a decision to extradite Kwon Do Hyeong to the United States, but not to South Korea.
Do Kwon attracted scrutiny from both US and South Korean authorities for his alleged role in one of the most significant collapses in crypto history. In May 2022, the values of TerraUSD and Luna—two tokens created by Kwon—imploded. This event wiped out approximately $40 billion from the broader crypto market, triggering a cascade of bankruptcies among other digital asset firms.
It is being argued by investigators that Do Kwon deceived investors and they also suspect he hid substantial assets tied to the collapse of TerraUSD/Luna. Last year, on March 23, the crypto entrepreneur and a high-ranking executive from his company Terraform Labs, Han Chang-joon, were detained at Podgorica airport when it was discovered they were using fake passports to travel to Dubai. Following this, Do Kwon was given a four-month prison sentence in Montenegro, prompting officials from the U.S. and South Korea to increase their efforts for his extradition.
After being discharged from Spuž Prison on March 23, Montenegrin officials handed over Do Kwon to an immigration officer for questioning. Following a thorough five-hour interview, he was escorted to the Immigration Center, where he is currently staying until the necessary arrangements are made for his extradition.
At press time, Terra Luna Classic (LUNC) traded at $0.00011565.
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2024-12-28 09:41