Do Kwon’s Appeal rejected, Faces Jail Time in Montenegro
Do Kwon, the mind behind the failed crypto project Terraform Labs, has lost his appeal against a 4-month prison sentence in Montenegro for passport fraud. Kwon, along with Han Chang-Joon, was convicted in June 2022 for falsifying passport documents.
The Montenegro Sentencing and its Relation to Terra’s Collapse
It’s important to note that Kwon’s prison sentence is directly related to passport fraud and not linked to the collapse of TerraUSD and the Terra blockchain in May 2022. However, Kwon is facing separate charges and lawsuits in South Korea and the United States in connection to Terra’s collapse.
The Future for Kwon and Terraform Labs
Following the rejection of his appeal, Kwon faces extradition to South Korea or the U.S. to face charges there once he completes his sentence in Montenegro. Despite the legal battles, the Terra ecosystem continues under new leadership, but the future remains uncertain for Terraform Labs amid multiple lawsuits and the criminal prosecution of its founder.
Hot Take
While the Terra ecosystem soldiers on, Kwon’s failed appeal in Montenegro paves the way for him to stand trial elsewhere soon, with authorities in South Korea and the U.S. awaiting his extradition after his sentence is completed.
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