Do Kwon’s extradition case could be headed to Montenegro’s Supreme Court.

Terraform Labs founder Do Kwon cannot be extradited to South Korea to face criminal charges, following a challenge by Montenegrin prosecutors to take the case to the country's Supreme Court.

In a March 21 announcement, prosecutors filed an appeal to stop Kwon's extradition to South Korea and asked for legal protection at Montenegro's Supreme Court. According to the request, the Court of Appeal dismissed the appeal from Kwon's legal team and violated due process. He argued that only the Supreme Court has the jurisdiction to make a legal decision on the matter.

Montenegrin courts have been weighing whether to extradite Kwon to the United States or South Korea, where he could face criminal charges related to his role in the Terraform Labs collapse. After the March 20 decision, the Terraform Labs co-founder appeared to be extradited to South Korea. However, the Supreme Court “may issue a ruling that will reverse the court's decision,” the prosecutor pointed out.

“[T]”The court unlawfully decided to grant extradition in a summary manner instead of a formal case and exceeding the scope of its authority, which is the sole authority of the Minister of Justice,” the prosecutor said in his translation. .

Kwon, who is a South Korean national, appears to have chosen to be devoted to his home country rather than the United States. In the year Following the collapse of Terra in 2022, the South Korean government is imposing severe penalties on individuals involved in crypto-related crimes. In the US, high-profile figures from the crypto space, including Sam Bankman-Fried, Changpeng Zhao and Alex Mashinsky, have been indicted, pleaded guilty or faced criminal charges for their roles in FTX, Binance and Celsius.

Related: US prosecutors continue to seek Do Kwon's extradition: Report

In the year In March 2023, authorities arrested Kwon in Montenegro for using false travel documents. He was subsequently sentenced to four months in prison while the country weighs extradition requests from the United States and South Korea.

South Korean authorities have indicted several individuals associated with Terraform Labs, including co-founder Hyun-Seong Shin. The firm's former chief financial officer, Han Chang-jun, was arrested in Montenegro at the same time as Quan, but was extradited to South Korea in February.

Magazine: US law enforcement agencies are turning up the heat on crypto-related crimes.