The Supreme Court of Montenegro scrapped the extradition of Terraform Labs founder Do Kwon to his home country of Korea.
Terraform Labs co-founder Do Kwon could be extradited to the United States by March to face charges of fraud.
Montenegro plans to extradite disgraced cryptocurrency entrepreneur Do Kwon to the United States to face criminal charges. Kwon, co-founder of Terraform Labs, was arrested in March after the crash of TerraUSD and Luna.
Terraform Labs co-founder Do Kwon was sentenced to four months in prison by a Montenegrin court for passport forgery. The Basic Court in Podgorica announced it handed four-month prison terms to both. They denied the charges during previous hearings.
Do Kwon's lawyers sought his bail in Montenegro for around $440,000 after he pleaded not guilty in court.
The key factor deciding the severity of Do Kwon’s punishment will be proving his creations — TerraUSD and Luna — are securities, according to the legal circle in Korea.
Do Kwon, the Terraform Labs co-founder behind a $40 billion implosion, is denying passport forgery allegations from the Montenegrin authorities.
Korean prosecutors will seek the extradition of Do Kwon, 32, the Terraform Labs co-founder behind a $40 billion implosion, after he was arrested in Montenegro on Thursday.
Do Kwon, the Terraform Labs co-founder behind a $40 billion implosion, was charged with fraud by U.S. prosecutors in New York.
Montenegro's interior minister said that the country's police had likely arrested Do Kwon, the co-founder of Terraform Labs, on Thursday in Montenegro.
Korea JoongAng Daily Sitemap