Do Kwon was ordered to be extradited to the US or South Korea, but the Supreme Court of Montenegro overturned the ruling.
Do Kwon was released from prison in Montenegro while the Supreme Court considered South Korea's and the United States request for extradition.
Do Kwon, a co-founder of Terraform Labs, filed an appeal that would have prevented his extradition to South Korea, but a Montenegrin court denied it.
The recent verdict by the Montenegrin high court, which ordered the extradition of Do Kwon from Terraform Labs to South Korea, will be challenged by US authorities.
The ongoing story of Do Kwon is that a Montenegrin court has once again overturned an earlier ruling that called for the executive's extradition to the US.
Do Kwon may not be extradited to the US in time for the company's trial before the SEC of that nation, his attorneys have stated.
Do Kwon is expected to be extradited to the US to face fraud accusations. Kwon has been detained in Montenegro since March 2023.
In support of Do Kwon's attorneys, the US SEC agreed to move the trial forward following the co-founder of Terraform Labs' extradition.
The approval for Terra founder Do Kwon's extradition to the US or South Korea has been revoked by a Montenegrin judge.
Materials from Jump Crypto Holdings have been admitted into discovery in a federal court as part of the US SEC's lawsuit against Terraform Labs.