A court in Montenegro has overturned a previous decision to extradite the founder of the Terraform Labs project, Do Kwon. The appeals court upheld his lawyer's objections to the extradition and sent the case back to the first instance for a new decision, according to the court's website.
In November, the highest court in Podgorica confirmed Kwon's extradition following requests from South Korea and the United States. Montenegro's justice minister had to determine which of those countries Kwon would be sent to.
Kwon is accused of fraud related to the collapse of the TerraUSD (UST) and LUNA (now LUNC) tokens. The collapse of the Terra project in 2022 resulted in $60 billion in losses to the crypto community.
In early December, information emerged about Montenegro's plans to extradite Kwon to the United States. In the middle of the month, the High Court of Montenegro extended Kwon's detention until February 15, 2024.
The cancellation of Kwon's extradition caused the LUNC token to surge 14%. The coin's price rose from $0.000150 to $0.000165 according to CoinGecko data
It is known that a person with a huge fortune can not be given to rich countries where they can take away his money.
For reference, Montenegro's public debt fell to 4024 bln EUR in 2023, while at the time of Kwon's arrest it was 4331 mln EUR.
Prison is the fate of a man without money who committed a crime. But when there is a lot of money and others claim it, fate becomes the subject of agreements.