Terraform Labs founder Kwon Do-Hyeong, also known as Do Kwon, will spend four months behind bars in the Balkans prison, for error travel documents.
This was the runaway cipher He was arrested in March In Montenegro’s capital, Podgorica, with Han Changjun, former CFO of Terraform Labs, after spending months Hide in Serbia. The arrest ended a cat-and-mouse chase by South Korean authorities, who sought Interpol’s help in issuing a red notice to arrest the duo. in 195 countries.
Fake travel documents, including two Costa Rican passports, two Belgian passports, and two identification cards from former cryptocurrency officials were found with the fugitives, along with laptops and other paraphernalia.
Montenegro must decide to extradite Do Kwon
United States and South Korea They were in competition For the extradition of a suspected cryptocurrency fraudster from Montenegro to orchestrate a $40 billion drop in TerraUSD and Luna coins. South Korean Attorney General Dan Songan, who is leading the investigation into the crypto entrepreneur, Tell Bloomberg Earlier this month, Kwon could have been tried in both countries, and he will likely serve his sentence first in one and then the other. The charges against Kwon in South Korea include violating a capital markets law and he faces up to 40 years in prison.
Kwon confronts fraud charges In the US, the Securities and Exchange Commission (SEC) sued him Financial crimes and attempts to manipulate the capital markets. Regulators said Kwon caused “devastating losses” to retail and institutional investors in the United States. SEC President Gary Gensler He said in February“Terraform and Do Kwon have failed to provide the public with the full, fair and honest disclosure required for a range of crypto-asset securities.”
the black Mountain No extradition treaties with the United States and South Korea, complicating the process of deporting the duo to either country. However, Washington is betting on the old extradition agreement with Montenegro used For extradition of American citizens. In this case, Kwon and Chang Jun South Korean nationalsWhich gives Seoul more hope of convincing Montenegro to hand over the fugitives.