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Extradition of Terraform Labs’ Do Kwon to South Korea Stalls


The extradition of Terraform Labs’ Co-Founder, Do Kwon, to South Korea has hit a roadblock as Montenegro’s Workplace of the Supreme State Prosecutor challenged towards the courtroom order yesterday (Thursday).

The nation’s prime prosecutor argued that the Excessive Courtroom’s choice to extradite Kwon to South Korea as a substitute of the US was achieved in an “abbreviated continuing” and exceeded the bounds of the courtroom’s attain. Apparently, when listening to an enchantment from Kwon’s legal professionals, an appellate courtroom subsequently confirmed the choice to the Excessive Courtroom.

The Balkan nation’s prosecutors additional requested safety of legality earlier than the Supreme Courtroom to cease the extradition of Kwon to South Korea. The prosecutors additional argued that solely the Supreme Courtroom can determine on this case.

“The courtroom, opposite to the regulation, carried out abbreviated, as a substitute of normal proceedings and by exceeding the bounds of its powers, decided on the extradition allow, which is the unique competence of the Minister of Justice,” the translated letter by the prosecutor acknowledged.

The tussle got here solely a day after an enchantment courtroom rejected the plea to dam the extradition of Kwon to South Korea, the place he might face “a number of felony offenses.” Kwon is a citizen of South Korea.

The US or South Korea?

Nonetheless, the US additionally desires to extradite Kwon from Montenegro. The US prosecutors introduced eight fees and would possibly transfer ahead with prosecuting him even with out his bodily presence. The US Securities and Trade Fee additionally introduced civil fees towards Terraform Labs and Kwon.

Following the collapse of the 2 Terraform Labs’ cryptocurrencies, TerraUSD and Luna, in 2022, Kwon disappeared from public view. The US and South Korean authorities blamed him for the practically $37 billion wipeout of the crypto market, which later prompted the collapse and chapter of a number of different initiatives. Kwon was arrested final yr in Montenegro whereas touring with false paperwork.

Apparently, different prime associates of Terraform Labs, together with co-founder Hyun-seong Shin and Chief Monetary Officer Han Chang-joon, have been arrested with Kwon and have been extradited to South Korea final month.

The extradition of Terraform Labs’ Co-Founder, Do Kwon, to South Korea has hit a roadblock as Montenegro’s Workplace of the Supreme State Prosecutor challenged towards the courtroom order yesterday (Thursday).

The nation’s prime prosecutor argued that the Excessive Courtroom’s choice to extradite Kwon to South Korea as a substitute of the US was achieved in an “abbreviated continuing” and exceeded the bounds of the courtroom’s attain. Apparently, when listening to an enchantment from Kwon’s legal professionals, an appellate courtroom subsequently confirmed the choice to the Excessive Courtroom.

The Balkan nation’s prosecutors additional requested safety of legality earlier than the Supreme Courtroom to cease the extradition of Kwon to South Korea. The prosecutors additional argued that solely the Supreme Courtroom can determine on this case.

“The courtroom, opposite to the regulation, carried out abbreviated, as a substitute of normal proceedings and by exceeding the bounds of its powers, decided on the extradition allow, which is the unique competence of the Minister of Justice,” the translated letter by the prosecutor acknowledged.

The tussle got here solely a day after an enchantment courtroom rejected the plea to dam the extradition of Kwon to South Korea, the place he might face “a number of felony offenses.” Kwon is a citizen of South Korea.

The US or South Korea?

Nonetheless, the US additionally desires to extradite Kwon from Montenegro. The US prosecutors introduced eight fees and would possibly transfer ahead with prosecuting him even with out his bodily presence. The US Securities and Trade Fee additionally introduced civil fees towards Terraform Labs and Kwon.

Following the collapse of the 2 Terraform Labs’ cryptocurrencies, TerraUSD and Luna, in 2022, Kwon disappeared from public view. The US and South Korean authorities blamed him for the practically $37 billion wipeout of the crypto market, which later prompted the collapse and chapter of a number of different initiatives. Kwon was arrested final yr in Montenegro whereas touring with false paperwork.

Apparently, different prime associates of Terraform Labs, together with co-founder Hyun-seong Shin and Chief Monetary Officer Han Chang-joon, have been arrested with Kwon and have been extradited to South Korea final month.

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