News 
December 26, 2024 
3 min. 
Montenegro’s court announced this week the rejection of the extradition request for Do Kwon, founder of Terraform Labs. The decision keeps Kwon in the country, where he faces charges related to document forgery.
This development marks another chapter in a case that has garnered international attention due to the collapse of over $40 billion tied to the TerraUSD stablecoin and the Luna token.
Montenegro Court Keeps Do Kwon in the Country
The decision to deny Do Kwon’s extradition was justified by Montenegrin authorities based on the progress of the local case. The Terraform Labs founder was arrested in March at Podgorica airport, using forged documents from countries such as Belgium and Costa Rica. The prosecution claims he was attempting to travel to Dubai.
Meanwhile, both South Korea and the United States are awaiting Do Kwon’s extradition to face charges of financial fraud and crimes related to the collapse of the Terra ecosystem. However, Montenegrin authorities have decided to prioritize the charges of document forgery within their jurisdiction.
The court has determined that Do Kwon will remain in detention in Montenegro to serve his sentence. This decision may delay the proceedings in the countries requesting his extradition, heightening the international impasse.
Extradition Could Set Precedent in Crypto Sector Cases
Do Kwon’s continued presence in Montenegro highlights the challenges of dealing with transnational cases involving financial crimes and forgery. The rejection of the extradition request reinforces the country’s legal sovereignty. However, it also raises questions about international coordination in high-impact cases.
Meanwhile, investors affected by the collapse of Terraform Labs continue to press for justice. Do Kwon’s situation remains uncertain, with legal proceedings in multiple jurisdictions awaiting developments.
The case underscores the complexity of legal relations between nations, especially in a scenario where the financial impact of crimes transcends borders. Montenegro finds itself at the center of this global controversy, while the financial world closely monitors the next steps.
