Montenegro extended the detention of Terraform Labs co-founder Do Kwon

The High Court extended the detention of Terraform Labs co-founder Do Kwon in the extradition fight over the collapse of TerraUSD.

According to a recent announcement by Terraform Labs co-founder Do Kwon, the Montenegro High Court extended his detention. Kwon's detention, which was due to expire on Friday, has now been extended for another two months, until Feb. 15. The postponement comes as both the United States and South Korea are actively seeking to extradite Do Kwon. They accused him of being involved in the collapse of the famous algorithmic stablecoin TerraUSD in 2022.

Do Kwon appeals extradition decision

It is reported that Do Kwon challenged the extradition decision of the Montenegrin court and filed an appeal on December 6. This legal initiative requires the Montenegrin Court of Appeal to re-evaluate the extradition decision. While local sentiment suggests that the chances of overturning the decision are slim, the process is unfolding and global attention is focused on the outcome.

Court spokeswoman Marija Rakovic stressed that individuals in extradition cases have the right to challenge the court's decision, adding another layer of complexity to an already complex legal situation.

Extradition destination: jurisdictional issues

While the extradition decision has been approved, the final decision on whether Do Kwon will be sent to South Korea or the United States remains to be determined, which is made by the Minister of Justice of Montenegro. During the trial, Do Kwon expressed a preference for extradition to South Korea, a factor that may influence the final decision. However, the SEC's interest in his extradition has further increased the scope of its deliberations.

Montenegrin legal authorities and Do Kwon's legal team are addressing these challenges and working to find solutions. Given the high profile of the case, it has attracted a great deal of attention, affecting the proceedings and the strategies of the parties involved.

This case highlights the growing intersection between international law and the fast-growing cryptocurrency industry. The attention it has received highlights the global implications of cryptocurrency-related legal issues and the challenges of dealing with them in different jurisdictions.