The extradition of Do Kwon, co-founder of Terraform Labs, has been annulled by the Supreme Court of Montenegro, overturning a decision made by the country’s lower courts. The Supreme Court approved a request for a protection of legality against the lower court’s decision, which would have allowed Kwon’s extradition to South Korea. Prosecutors argued that the appellate court had violated procedure by rejecting an appeal from Kwon’s legal team, leading to the final decision being passed to the Supreme Court.
The Supreme Court clarified that in cases where two states are competing for the extradition of the same person, the court’s responsibility is to determine whether the legal conditions for extradition have been met for each individual petition. The decision on permission and the order of priority of extradition is then made by the competent minister, not the court. As a result, the Supreme Court sent the decision of Kwon’s extradition back to the High Court in Podgorica, which will decide whether he will be sent to the United States or South Korea. Kwon is facing criminal charges in both countries but has been residing in Montenegro since his arrest in March 2023 for using falsified travel documents. He is currently free to travel within Montenegro until the courts make a decision on his extradition case.
Meanwhile, in the absence of Kwon, the U.S. Securities and Exchange Commission has proceeded with a jury trial against Terraform Labs and its co-founder in March. Some of Kwon’s previous statements have been presented as evidence during the trial, which is still ongoing. Additionally, Han Chang-joon, former chief financial officer of Terraform Labs, who was also arrested in March 2023, has been extradited to South Korea. South Korean authorities have indicted several individuals connected to Terraform Labs, including co-founder Hyun-seong Shin.
In other news, a team of white hat hackers called ‘SEAL 911’ has been formed to combat crypto hacks in real time.