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Do Kwon to be released from Montenegro prison as court suspends extradition


In accordance with the High Court’s decision, Do Kwon will be released from prison in Spuž on Saturday but will not be allowed to leave Montenegro.

According to local reports, authorities will confiscate Kwon’s valid passport as a security measure. The move follows the court’s need to respond to challenges raised by the state’s top prosecutor’s office regarding the process that led to the initial approval of Kwon’s extradition earlier this month.

The prosecution’s objections focus on the expedited nature of the proceedings and question the legal basis of the court’s decision to extradite Kwon.

The pause in the extradition process allowed Kwon to be extradited to the United States, in accordance with the preferences of Montenegrin authorities. Kwon’s legal representatives have advocated for his return to South Korea, where the consequences of his alleged crimes are less severe than in the United States.

The country’s top prosecutor has identified technical problems in the way the court’s extradition order was handled. This comes after the court overturned an earlier decision to extradite Kwon to the United States for a civil trial related to fraud charges brought by the US SEC, which is scheduled to begin on March 25.

Kwon, alongside Terraform Labs, is facing litigation from the SEC following the May 2022 collapse of the TerraUSD and Luna cryptocurrencies. The fallout is believed to have wiped around $40 billion from the cryptocurrency market. He was arrested a year ago in Montenegro for traveling with a false passport.

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