Terraform Labs co-founder Do Kwon's lawyers argued in a U.S. court that SEC's lawsuit against the firm should be dismissed.
Do Kwon was arrested on 23 March at Podgorica airport in Montenegro while trying to fly to Dubai using forged passports. Following his detention, both South Korean and American officials have sought his extradition.
As of now, it is not sure which country, if any, would be most likely to be granted Kwon’s extradition. Moreover, an arrest order for Terraform Labs co-founder Shin Hyun-Seong was recently denied by the Seoul Southern District Court. While prosecutors saw Kwon’s arrest as a chance to apprehend Shin, the court refused the motion. The refusal cited unverified charges and the unlikely occurrence of Shin fleeing or destroying evidence.
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