Photo : YONHAP News
The Constitutional Court of Montenegro accepted an injunction filed by Kwon Do-hyung, the disgraced Terraform Labs co-founder, asking for a suspension of his extradition, as he is wanted in both South Korea and the U.S. in connection to a massive cryptocurrency crash.
The court announced on Friday that its bench unanimously decided to suspend the extradition process and the Supreme Court’s ruling that the justice ministry should determine the country of destination, until it reaches a final decision on Kwon’s appeal.
Earlier on Thursday, Montenegro’s Justice Minister Bojan Božović said the decision regarding Kwon’s extradition would be confirmed by the end of this week.
An appeals court previously upheld a lower court’s ruling to hand Kwon over to South Korea for the second time in August, after which the top court nullified the decision, passing the authority to the justice minister.
Kwon, a South Korean national, faces fraud and other charges related to the crash of TerraUSD and Luna coins in 2022, which wiped out 40 billion U.S. dollars in investor funds. He was arrested in Montenegro last March after being caught traveling with a fake passport.