Terra Labs Co-founder Do Kwon's Extradition Approved Once Again

Montenegro finds itself at the center of a legal tug-of-war between the United States and South Korea as its courts reconsider the extradition fate of Do Kwon, the co-founder of Terra Labs. A Montenegrin court has once again approved Do Kwon's extradition. 

It is now up to Justice Minister Andrej Milovic to decide whether to extradite Do Kwon to the United States or South Korea. Milovic has been vocal in advocating for Kwon's extradition to the United States, signaling a potential victory for US authorities in their pursuit of justice.

However, with extradition requests from both South Korea and the US on the table, Montenegro faces the challenge of navigating complex jurisdictional waters.

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Courtroom Drama Unfolds

The legal drama surrounding Kwon has been fraught with complexity.  Earlier, a Montenegrin appeal court had rejected attempts to extradite Kwon to the US. However, a Bloomberg reports a twist in the tale: Montenegro's Supreme Court stepped in, nullifying previous decisions favoring South Korea's extradition request. 

This turn of events breathes new life into US efforts to bring Kwon to trial over fraud allegations linked to the TerraUSD stablecoin's collapse in 2022.

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US Legal Troubles Deepen

Meanwhile, in the United States, Kwon faces mounting legal troubles. A federal jury in New York has already found Kwon and Terraform Labs responsible for defrauding investors of billions of dollars. 

The civil complaint, filed by the SEC, accuses Kwon and his company of orchestrating a fraudulent scheme that led to substantial market value losses.