Montenegro's Constitutional Court has unanimously rejected an appeal by Do Kwon, co-founder of Terraform Labs, challenging his extradition ruling. The decision maintains the authority of Montenegro's Justice Minister to determine whether Kwon will be sent to South Korea or the United States to face criminal charges.
Kwon's legal team had contested a previous Supreme Court of Montenegro ruling that canceled his transfer to South Korea and gave extradition authority to the justice minister. They claimed the process was procedurally unfair, but the Constitutional Court found no violations of Kwon's rights to a fair trial or family life.
The final decision now rests with Justice Minister Bojan Božović. Reports suggest Montenegro officials may favor sending Kwon to the United States rather than South Korea, with national interests potentially influencing the choice. The Supreme State Prosecutor's Office has twice opposed Kwon's return to Seoul, adding weight to speculation about a U.S. transfer.
Kwon faces charges in both countries related to the catastrophic collapse of his cryptocurrency firm's TerraUSD and Luna tokens in May 2022, which reportedly caused losses exceeding $34 billion. He was arrested in Montenegro in March 2023 while attempting to travel using a forged passport.
His legal representatives are expected to pursue additional measures to prevent U.S. extradition, leaving the timeline uncertain. Meanwhile, South Korea's Ministry of Justice has urged Montenegro to avoid prolonged delays that could raise human rights concerns.
The case has drawn international attention since Kwon's arrest, following his journey through Singapore, the United Arab Emirates, and Serbia after departing South Korea in 2022. The latest court ruling marks another chapter in the complex legal proceedings surrounding one of cryptocurrency's most notorious figures.