UpdatesNov 27, 2023

The final decision on Do Kwon's extradition will be made soon

A South Korean cryptocurrency entrepreneur will soon face American justice

During the trial, the Supreme Court in Podgorica established the legal requirements for the extradition of the founder and CEO of the bankrupt Terra Classic cryptocurrency project (formerly known as Terra). This results from the official statement published on November 24 this year on the website. It is worth adding that the final decision in Do Kwon's case will be made by the Minister of Justice of Montenegro.

The final decision on the extradition of Terra's founder is on the horizon

Everything indicates that Do Kwon may soon be transferred to the United States or South Korea. If this happens, the American or South Korean justice system may impose a severe punishment on him. The disgraced entrepreneur is currently in Montenegro. Kwon was sentenced to four months in prison in this country after a court found him guilty of using a forged passport during check-in at the airport in Podgorica.

Do Kwon's close friend and former CFO of Terraform Labs - Han Chong-joon - was arrested and charged with him, and was tried and sentenced to the same prison sentence. Terra's former CEO claimed during the trial that he was unaware that the passport he was traveling with was allegedly forged, and instead the cryptocurrency entrepreneur blamed it on a Chinese agency.

According to Do Kwon's testimony during the criminal proceedings, because he had been traveling with his Costa Rican passport for years, he had absolutely no reason to doubt its authenticity in any way. In addition to the threads related to denying the forgery of travel documents, the man also clearly denied all allegations that he transferred any financial benefits to the former Minister of Finance of Montenegro, specifically Milojko Spajic.