US will appeal do Kwon's extradition to South Korea: Report

• US authorities will continue to seek the extradition of Do Kwon despite a Montenegro court ruling in favor of an extradition to South Korea, Bloomberg has reported.

• The extradition saga has seen several appeals of decisions, and at the moment, it is unclear whether Do Kwon will appeal the latest decision.

The U.S. will appeal the ruling of a Montenegro Court to hand Terraform Labs co-founder Do Kwon to South Korea, according to Bloomberg.

On Thursday, Kwon’s attorney, Goran Rodic, told CoinDesk via text that a Montenegro court had ruled to extradite him to South Korea after March 23 without indicating whether he would be appealing.

“The United States continues to seek Kwon’s extradition in accordance with relevant international and bilateral agreements and Montenegrin law,” the Justice Department said in a statement Thursday, Bloomberg reported. “The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law.”

The U.S. and Kwon’s native South Korea have been battling it out in court, seeking his extradition.

The eyes of global authorities, including Interpol, have been on Kwon ever since Terra collapsed in mid-2022. Terra's collapse wiped out billions of Dollars of investor funds, and Kwon fled to Montenegro, where he was arrested for possession of falsified official documents. The courts in Montenegro are deciding the destination of his extradition.

The U.S. Department of Justice didn’t immediately reply to a CoinDesk request for comment.