- The extradition battle between the US and South Korea over Do Kwon has ended with a ruling to send him to South Korea
- The Appellate Court of Montenegro has confirmed an earlier High Court decision to extradite Kwon to South Korea
- The 16-month legal fight has been reminiscent of the battle for BTC-e co-founder Alexander Vinnik, which the US initially lost
The extradition battle between the US and South Korea over Terraform Labs co-founder Do Kwon looks to be over after a ruling to send him back to his homeland was approved. The Appellate Court of Montenegro yesterday issued a ruling confirming an earlier decision from the High Court of Podgorica to send Kwon to South Korea instead of the US following a 16-month legal fight. The toing and froing is reminiscent of the battle for BTC-e co-founder Alexander Vinnik, which the US also initially lost.
Tug of War
Since his arrest on March 23, 2023, at Podgorica Airport in Montenegro, Kwon has been embroiled in a high-stakes legal battle over his extradition. Kwon was apprehended while attempting to board a flight to Dubai using a fake Costa Rican passport, marking the beginning of a complex international legal saga.
The United States and South Korea quickly filed formal extradition requests, each seeking to prosecute Kwon for his alleged involvement in the $40 billion collapse of the Terra-Luna cryptocurrency ecosystem. The US charged him with securities fraud, wire fraud, and conspiracy, while South Korea accused him of breaching capital markets law and financial fraud.
Kwon’s legal team in Montenegro immediately contested the extradition requests, citing procedural irregularities and insufficient evidence from both countries. They argued for Kwon’s right to a fair trial and requested more time to prepare their defense.
In June 2023, Montenegro’s judiciary conducted initial hearings to evaluate the extradition requests, demanding additional documentation and evidence from the US and South Korea. Due to the complexities of the competing requests, the Montenegrin court deferred its decision in July, citing the need for further evidence and clarifications.
South Korea Wins the Day
As diplomatic channels intensified, both the US and South Korean embassies in Montenegro lobbied for Kwon’s extradition, highlighting the importance of prosecuting him within their legal frameworks. Kwon’s legal team continued to file motions, including requests for bail and petitions challenging his detention conditions, while Montenegro’s court requested further documentation from the requesting countries.
By November 2023, both the US and South Korea had submitted additional evidence, prompting another round of hearings. The Montenegrin court heard final arguments in January 2024, with Kwon’s defense emphasizing procedural flaws and potential human rights issues, while the US and South Korea stressed the severity of his alleged crimes.
Yesterday, after months of deliberation, the Montenegrin court approved Kwon’s extradition to South Korea, with the decision expected to be rubber-stamped next week. The US may get their hands on him following any prison sentence in South Korea in the same way that they did with Alexander Vinnik, where they had to wait for him to complete his sentence in France before they could extradite him.
