Disgraced Terraform Labs Co-Founder to Remain in Custody
According to a recent report, Do Kwon, the co-founder of Terraform Labs, will remain in custody in Montenegro until February 2024.
Extension Granted for Two Months
The report, published by Bloomberg, states that Kwon’s detention has been extended at the request of the United States and South Korea.
Kwon is facing charges related to the collapse of cryptocurrency coins Terra and Luna, which resulted in significant losses for the crypto market.
The High Court of Montenegro spokesperson, Marija Rakovic, confirmed that Kwon’s detention was initially set to end on Friday but has now been extended until February 15th.
Possibility of Extradition
After the High Court approved Kwon’s extradition last month, Montenegrin Justice Minister Andrej Milovic holds the fate of the co-founder.
A recent report from the Wall Street Journal suggested that Kwon might be extradited to the United States. However, Milovic has not provided any official comments on the matter yet.
The Future of Kwon’s Case
Kwon’s extended detainment comes after an international manhunt for him that began in September 2022. He was eventually caught trying to leave the country with fake passports in March 2023.
Last month, Kwon’s appeal against his Montenegrin document forgery case was rejected. Currently held in Spuž Prison, his attorney is attempting to appeal the decision to extradite him.
Hot Take: Do Kwon Faces Prolonged Custody
Do Kwon, co-founder of Terraform Labs, will remain in Montenegrin custody until February 2024. The extension of his detention was granted at the request of the United States and South Korea. Kwon is facing charges related to the collapse of cryptocurrency coins Terra and Luna. Despite rumors of extradition to the United States, no official confirmation has been provided by Montenegrin Justice Minister Andrej Milovic. Kwon’s case has been marked by an international manhunt and a failed appeal against his document forgery case. His attorney is currently trying to appeal the decision to extradite him. The future of Kwon’s case remains uncertain until a final decision is made.
By
By
By
By