Terraform Labs Co-Founder EXTRADITED

February 5, 2024 9:38 am Comments

One of the co-founders of Terraform Labs has been extradited to South Korea.

Han Chang-Joon, one of Do-Kwon’s alleged collaborators, was extradited to South Korea by a Montenegrin court. Joon was arrested alongside Do Kwon in 2023 for reportedly attempting to flee with forged travel documents.

Both Kwon and Joon have fought long and hard against the extradition attempts, with the former still attempting to appeal the decision to extradite.

A Montenegrin court previously ruled that Do Kwon should be extradited, but that decision has since been put on pause pending an appeal.

According to the court, it is looking into whether or not Do Kwon’s extradition request was handled properly at lower levels in the justice system, so Kwon still has a chance to avoid extradition. Here’s the latest on the ongoing Terraform Labs case:

CoinDesk had more information:

The two have remained in custody while the country determined where to extradite them. Both the U.S. and South Korea have asked for Kwon to be transferred to their respective jurisdictions to face criminal charges over the collapse of the multibillion-dollar crypto enterprise Terraform Labs in May 2022.

Colin Wu explained: “Montenegro police announced this morning that Han Chang-joon, the former financial officer of Terraform Labs, has been extradited back to South Korea. Han Chang-joon and Do Kwon were both arrested in March 2023 at Podgorica Airport in Montenegro. Both U.S. and South Korean prosecutors have requested Do Kwon’s extradition.”

According to The Block:

Do Kwon remains in custody in Montenegro while the Ministry decides whether to send him to South Korea or the United States. Earlier this month, Do Kwon’s legal defense team asked a U.S. court to push back the Securities and Exchange Commission trial against him so he could make a personal appearance.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.