Do Kwon, founder of the failed Terra and Luna cryptocurrencies, will not be extradited to the United States for now. This is because a Montenegro appeals court ordered the suspension of the extradition ruling and a restart of the court case.

The Court of Appeals Gives Kwon a Small Win...

Following an appeal filed by Kwon's defense lawyer, the Podgorica High Court's decision to authorize Kwon's extradition has now been revoked. Kwon's case has been ordered returned to trial court to start a new case against him.

This overturns November's ruling that all legal requirements were met for Kwon's extradition. It also rules out forecasts he would be sent to the US to face fraud and other federal charges, which the Montenegro Justice Ministry had agreed to instead of extraditing him to South Korea.

Kwon's lawyer argued the extradition ruling violated criminal procedure provisions, meaning it was made without due process. The appeals court agreed the Podgorica High Court “acted in contravention of the law on international legal assistance in criminal matters.”

Kwon was Caught Fleeing South Korea, When Spotted in Montenegro in June 2022...

He was traveling on false documents and lying about his identity, while attempting to flee South Korea following the failure of his company's collapse.  

Before the collapse, Do Kwon had dozens of companies in the crypto industry to investing, attracting them with high-rate 'guaranteed' interest earnings. Between this, and their massive sell-off of Bitcoin held in reserves while attempting to rescue their stablecoin, the entire market turned red.

Do Kwon's failures are blamed for triggering the start of the 2022 bear market.

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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News

Sources have informed us of a pending international police (Interpol) global 'red alert' to be issued shortly for the search and capture of Do Kwon, the co-founder of the failed cryptocurrencies terraUSD (UST) and Luna (LUNA), whose whereabouts are currently unknown after moving from Singapore, where he was evading South Korean justice.  

The Interpol security forces include a total of 195 member countries with cooperating law enforcement officials. 

Kwon is indicted in South Korea and possibly wanted internationally for various crimes, including investor fraud, money laundering and tax evasion and evade taxes... 

To the crypto world, he is responsible for a massive loss of investor funds, considered the event that started this year's bear market.

At the time of publishing, Do Kwon's profile has not yet been listed on the official Interpol wanted page. However, if accurate, he would become part of a list of 7,152 red alerts that are currently active.

His most recent statement showed he was still struggling to accept reality...

9 days ago, he denied that he was on the run and that he was at the order of "any government agency" that wants to communicate with him. "We are very cooperative and we have nothing to hide," Kwon said.

South Korean officials rebutted the statement, saying he 'clearly' is evading authorities.

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Author: Adam Lee 
Asia News Desk / Breaking Crypto News