Montenegro’s Constitutional Court has rejected the appeal of Do Kwon, the co-founder of Terraform Labs, which challenges his extradition.
The decision by the Montenegrin court reportedly pointed to inconsistencies in Kwon’s appeal, confirming the original ruling that supports extradition.
It also removes a legal option for Kwon, who is wanted by South Korea and the United States for alleged financial crimes. Authorities in both countries have requested his extradition to face charges.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is Yield Farming in Crypto? (Animated Explanation)
Kwon has been under scrutiny since 2022, when his cryptocurrency project, Terra Luna, collapsed, wiping out $45 billion in market value. The incident led to accusations of fraud, market manipulation, and violations of securities laws, triggering investigations in multiple countries.
The collapse is considered one of the biggest failures in cryptocurrency history. It decreased trust in stablecoins and decentralized finance (DeFi), prompting stricter regulatory measures worldwide.
Kwon was arrested in Montenegro in March 2023 while attempting to leave the country using a fake passport. The legal challenges have since intensified, with Montenegrin authorities navigating complex extradition requests from two major jurisdictions.
Terra Luna’s $45 billion crash has even been adapted into a film, Crypto Man, scheduled for release in South Korea in January 2025. How would the movie present this infamous collapse? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
