In a surprising twist, the Montenegrin Appeals Court has overturned a prior decision to extradite Do Kwon, the controversial founder of Terraform Labs, marking a significant development in a case that has captured global attention. On November 17, the Higher Court in Podgorica approved the extradition of Do Kwon, the controversial founder of Terraform Labs.
This approval granted the green light for Kwon’s transfer to the Republic of South Korea and the United States. The extradition aimed to have him face multiple criminal charges associated with the collapse of Terra, his brainchild which experienced a downfall in May 2022.
However, a subsequent appeal led to a retrial, with the Appellate Court citing a substantial violation of criminal procedure in the lower court’s ruling. The court contended that the investigating judge failed to inform Do Kwon about the reasons and evidence supporting his extradition, particularly to the United States extradition request. This failure was deemed a breach of the Law on International Legal Assistance in Criminal Matters.
Moreover, the Appellate Court had earlier revoked a decision by the Higher Court that had delayed Kwon’s extradition until he served a prison sentence for a separate offence. The Court of Appeals asserted that the determination of extradition postponement falls within the purview of the Minister of Justice, not the court, emphasizing a clear demarcation of jurisdiction in such matters.
This legal rollercoaster has not only raised eyebrows. Still, it has also sent shockwaves through the cryptocurrency world, where Terra Luna Classic (LUNC) is entangled in the aftermath of Kwon’s legal battles. The price of LUNC stands at $0.00015795 currently, reflecting a 4.62% increase in the past 24 hours and a 6.70% decline over the last seven days. With a circulating supply of 5.9 trillion LUNC, the market cap of Terra Luna Classic is currently valued at $925,019,586.
The uncertainty surrounding Do Kwon’s legal fate and the potential implications for Terra Luna Classic are undoubtedly influenced by market fluctuations. Investors and enthusiasts are now left waiting anxiously for further legal proceedings as the saga unfolds at the intersection of cryptocurrency and international legal intricacies.
The Appellate Court’s recent decision has brought newfound clarity. However, it has also injected fresh uncertainty into the trajectory of both Do Kwon’s fate and Terra Luna Classic’s future in the ever-evolving digital assets landscape.
