South Korea beats the US to Do Kwon extradition as court cites ‘first-come-first-serve’

Terraform Labs founder Do Kwon will be extradited to South Korea. Kwon has been on the radar of authorities from multiple countries since Terra collapsed in mid-2022. The saga provoked a longstanding bear market in the cryptocurrency, with the initial impact wiping out billions of dollars of investor funds. Kwon had fled to Montenegro but was later arrested for possession of falsified documents.

Also Read: LUNC price crash could extend 30% amid oncoming hearing between Terraform Labs and the SEC

Montenegrin court confirms Do Kwon’s extradition

Local media reports that The Appellate Court of Montenegro has rejected the appeal of defense attorneys for Kwon Do Hyeong, the defendant, confirming the decision that had been made earlier by the High Court in Podgorica.

Initially, the High Court had allowed the extradition in proceedings of the citizen of the Republic of South Korea. The Asian nation requested that Kwon face criminal prosecution for several criminal offenses. The High Court had also refused an extradition request by US authorities.

Citing “order of arrival,” among other criteria pursuant to Article 26 of the Law on international legal assistance in criminal matters, the Appellate Court of Montenegro (court of appeals) echoed the High Court’s ruling that South Korea had made their request earlier than the US.

Article 26 played a role in the determination, providing guidance in a split situation where the extradition of the same person is requested by several countries.

The aforementioned decision of the Appellate Court of Montenegro with detailed reasons will be published on the website of the Appellate Court.