According to a press release issued by the judicial authorities, Terraform Labs founder Do Kwon, who was previously arrested in Montenegro for forging a passport, has been granted permission by the local court to be extradited to South Korea or the United States.
The court stated in a statement that although the defendant Do Kwon has agreed to be extradited back to South Korea for trial, there are multiple countries requesting extradition in this case, so the final decision on which country has priority extradition rights will be made by the local Minister of Justice.
Currently, Do Kwon is facing eight criminal charges filed by US prosecutors, including conspiracy to commit fraud, commodity fraud, securities fraud, telecommunications fraud, and conspiracy to engage in market manipulation, as well as multiple civil lawsuits. In addition, South Korean prosecutors have also indicted Do Kwon on charges of financial crimes, with both countries seeking priority extradition. Legal experts have previously suggested that South Korea may currently have the upper hand in priority extradition, as South Korea is a signatory to an extradition treaty with Montenegro.