Prison Sentence in Montenegro
Do Kwon, co-founder of Terraform Labs, was arrested in Montenegro in March 2023 for using a fake passport. He was sentenced to four months in prison, which he has now served.
Release and Restricted Movement
Kwon is scheduled to be released on March 23, 2024. However, he will not be allowed to leave Montenegro due to a court order seizing his passport.
Extradition to South Korea
South Korea has secured Kwon’s custody for fraud allegations related to the collapse of the Terra ecosystem. However, the extradition process has been delayed.
Montenegro’s Supreme Court Halts Extradition
The Supreme Court of Montenegro has halted Kwon’s extradition pending a review of a petition filed by national prosecutors. The prosecutors argue that there were procedural errors in the lower court’s decision to approve the extradition.
Next Steps
The Supreme Court will determine if there were procedural violations and whether the lower court’s decision was legally sound. The outcome of this review will determine whether Kwon will be extradited to South Korea.