Do Kwon, the founder of Terraform Labs, has recently won a significant legal battle regarding his potential extradition in Montenegro. Kwon was on the brink of being extradited to the U.S. after his company, Terra Crypto, collapsed, causing billions in losses for investors. However, the Montenegro court has decided that the case warrants further examination.
The decision on whether Kwon should be extradited to the U.S. or South Korea is still pending. The court of appeal identified problems with the rationale for his extradition to either country. This development has left everyone in suspense about what will happen next.
Despite numerous delays in his extradition and appeal process, Kwon was finally declared victorious. However, this court win doesn’t imply that Kwon is entirely free. His potential trip to the U.S. is currently on hold and may not occur. The case is being sent back to the beginning for a fresh look, so it will be a while longer before we find out if Kwon will go to the U.S. to resolve matters.
Last year, Terra, the third-largest cryptocurrency ecosystem after Bitcoin and Ethereum, collapsed in just three days in May 2022, erasing $50 billion in valuation. Kwon, the brains behind Terra, was held accountable for this catastrophic crash.
So, what’s the current situation with Do Kwon? He has just won a court case that could prevent him from being immediately extradited to the U.S. or South Korea. However, with all the legal complexities and the major upheaval caused by Terra’s downfall, everyone is keenly observing what will happen next with Kwon. It’s challenging to determine whether he is free from the fraud charges. Only time will reveal the true extent of his freedom.