One of the main reasons for the long-lasting winter in the cryptocurrency ecosystem, Terra incidents and the developments surrounding Do Kwon, continue to unfold. A significant decision was made regarding Do Kwon just minutes ago.
Do Kwon’s Extradition Approved
A critical decision was made by the court in Podgorica, the capital of Montenegro. An update was published on the institution’s website. The update stated that the extradition of Do Kwon, the founder of Terra, which has been a long-standing issue, to South Korea or the United States, has been approved. Kwon was arrested within the country’s borders after being caught with fake documents at Podgorica airport in March.
It was announced that the final decision regarding Kwon’s extradition will be made by the Minister of Justice of Montenegro after he completes his four-month prison sentence for document forgery in Montenegro.
Following the arrest in Montenegro, Kwon continues to face multiple fraud charges by US federal prosecutors as well as an ongoing investigation in South Korea related to the terraUSD scandal that emerged last year, in addition to the existing legal charges in the United States.
According to the information obtained, at the beginning of this month, the Supreme Court of Montenegro upheld the four-month prison sentence imposed on Kwon and his partner Han Chang-Joon for document forgery, revealing the possibility of Kwon’s extradition to South Korea or the United States after completing his sentence in Montenegro, and rejected their appeal, finding the sentence appropriate.
Do Kwon is Not the Only Accused
Daniel Shin, another name mentioned in the Terra Luna incidents, also continues to face troubles. There were opinions suggesting that Shin was involved in the events as well.
In April, Daniel Shin, co-founder of Terraform Labs, faced charges. He was accused of violating capital market laws in South Korea, and prosecutors froze his $185 million assets. Shin denied involvement in the company’s collapse, stating that he had left two years ago.
