Do Kwon extradition approved by Montenegro court

The legend of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States.The High Court of Podgorica has actually determined the legal requirements for Kwons extradition, according to a main declaration posted on the courts website on Nov. 24. As the court approved Kwons extradition to either the U.S. or South Korea, the final choice on his extradition will be made by Montenegros minister of justice, the announcement notes.Previously, a court in Montenegro sentenced Kwon to four months in prison after finding him guilty of utilizing a forged passport to attempt to run away to Dubai through private jet. In June 2023, Kwon was supposedly charged with trying to leave the country using a phony Costa Rican passport.If the minister of justice enables the last extradition of the defendant, the extradition will occur after the execution of the criminal sanction revealed before in the case of forged documents, the court declaration notes.Related: SEC seeks summary judgment in Do Kwon and Terraform Labs caseKwon was jailed in Montenegro in March 2023 for his role in the $40-billion collapse of the Terra environment in May 2022. As both the U.S. and South Korea subsequently asked for Kwons extradition, some prosecutors suggested that the Terraform Labs co-founder could be based on multiple sentences in both countries.Do Kwon was apprehended for trying to get away Montenegro using phony documents. Source: FortuneIn the U.S., Kwon is facing a fraud-related civil suit from the Securities and Exchange Commission along with several criminal charges by the Justice Department over the collapse of TerraUSD and LUNA. If Kwon is extradited to South Korea, he might apparently face a 40-year jail sentence in the country, where he allegedly devoted most of his crimes.Last week, Montenegros highest court reportedly denied Kwons appeal, forcing him to remain put behind bars. According to online reports, Kwon is currently being held at Spuž jail near the Montenegrin capital of Podgorica, where he is permitted to go outside for one hour daily. European authorities apparently said that the jail is confined and inadequately ventilated.Magazine: How to safeguard your crypto in an unpredictable market– Bitcoin OGs and experts weigh in