Terra Founder Do Kwon to Remain in Montenegrin Custody for Two More Months
Do Kwon, the founder of Terra (LUNA), will continue to be held in custody in Montenegro for an additional two months following requests from the United States and South Korea. The extension is related to charges connected to the collapse of Terra’s stablecoin UST last year. An appellate court is currently deciding which country Kwon will be extradited to, as his defense appealed the High Court ruling from the previous month. Kwon was arrested in March in Montenegro while attempting to board a flight using a forged passport. Both the US and South Korea are seeking his extradition to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022.
Extradition Decision Pending
The court in Montenegro approved Kwon’s extradition to both the US and South Korea, but he has appealed this decision. The Justice Minister, Milovic, is expected to wait for the court’s ruling on Kwon’s appeal before announcing which country he will be extradited to. The Seoul Southern District Prosecution Service has stated that Kwon could potentially face over 40 years in prison if convicted.
Hot Take: Terra Founder Do Kwon Faces Extended Custody Period
Do Kwon, the founder of Terra (LUNA), will remain in Montenegrin custody for at least two more months as authorities honor extradition requests from the United States and South Korea. This comes after charges were filed relating to the implosion of Terra’s stablecoin UST last year. While an appellate court determines which country Kwon will be extradited to, he has lodged an appeal against a High Court ruling. This development marks another delay in resolving the case surrounding the collapse of the Terra ecosystem, which saw $40 billion lost. If convicted, Kwon could face a lengthy prison sentence of over 40 years.
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