Do Kwon extradition hits snag as prosecutor challenges ruling

The legal back and forth around Do Kwon’s extradition hit another speed bump

article-image

Terraform Labs and Adobe Stock modified by Blockworks

share

Former Terraform Labs CEO Do Kwon is set to be extradited to South Korea, unless Montenegro’s top prosecutor stops it. 

According to a press release, the Supreme State Prosecutor’s Office asked the Supreme Court to determine whether or not the court’s ruling that Kwon will be extradited to his home country is founded. 

“In the specific case, the court, contrary to the law, conducted abbreviated, instead of regular proceedings and by exceeding the limits of its powers, made a decision on the extradition permit, which is the exclusive competence of the Minister of Justice,” a translated version of the press release said.  

The Supreme Court said on Friday that it was placing a stay on the ruling made by the High Court, which means that Do Kwon will not be extradited to South Korea yet.

This is yet another snag ahead of his upcoming trial in the US. The Securities and Exchange Commission’s case against the former executive and Terraform Labs was delayed until the end of the month. 

The original delay was ordered so that Kwon had time to be extradited to the US. However, in late February, Kwon’s lawyers told the court that they didn’t expect a US extradition by March.

Read more: What’s happening with ex-Terraform CEO Do Kwon?

Kwon and his lawyers in Montenegro pushed for an extradition to his home country. Both the US and South Korea field requests with Montenegro to extradite the former crypto CEO.

The trial is slated to start on March 25.

Montenegro announced on Wednesday the “confirmed decision” of the High Court on Kwon’s extradition, just a day before the Prosecutor’s Office made its announcement. 

In the earlier press release, the court confirmed its decision, highlighting South Korea’s initial request for Kwon’s extradition. This request was “applied in the case when the extradition of the same person is requested by several countries.”

Late last year, there were mixed reports about a potential US extradition for Kwon, though — due to the handling of the case by the courts — the ruling was subsequently overturned and the case reheard.

Updated March 22, 2024 at 12:26 pm ET: Added that the Supreme Court placed a pause on Do Kwon’s extradition.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

The platform also rolled out 13 tokenized funds for institutions on the Connect platform

article-image

The company’s expanded lineup introduces new ETF products, as more and more issuers get into crypto funds

article-image

President Donald Trump announced a 10% levy on almost all goods and additional tariffs on so-called “worst offending” countries

article-image

Solana may be in “recomposition” mode, as new protocols put usefulness ahead of mere virality

article-image

The stablecoin issuer will have to contend with bigger players and the interest rates environment

article-image

The president reportedly was still working on his tariff policy plans late Tuesday evening