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Montenegro’s Constitutional Court has once again halted the extradition of Do Kwon, the former CEO of Terraform Labs, surprising the nation’s Justice Ministry.
The court suspended the process on October 18, pending a ruling on Kwon’s appeal, just days after the Ministry had announced it would disclose the extradition decision on October 20.
Do Kwon’s extradition has been a complex issue since both the United States and South Korea requested his transfer following his March 2023 arrest in Podgorica, Montenegro, for using fake passports. Although the High Court of Podgorica approved his extradition in November 2023, legal challenges have kept the decision in limbo.
Kwon, who is also facing fraud charges from the US SEC, allegedly retained access to significant crypto assets, with 1,075 Bitcoin worth $62 million linked to him.
This case is further complicated as Montenegro has become a refuge for other crypto fugitives, including Roman Ziemian, co-creator of the controversial FuturoCoin.