Do Kwon, founder of Terraform Labs, which operated the so-called TerraUSD stablecoin and its sister token LUNA, said: Arrested Thursday morning in Montenegro after months of hiding While trying to board a flight fleeing Dubai with forged documents.
Thursday night — hours after Kwon was arrested at the airport in Podgorica, the capital of Montenegro — U.S. prosecutors have indicted Kwon on eight counts, including securities fraud and conspiracy. His alleged role in wiping out nearly $40 billion from the crypto market. Interpol confirmed Thursday that the man detained in Montenegro is Do Kwon, or Do Hyun Kwon, a cryptocurrency fugitive wanted on fraud charges in South Korea and the United States. per CNN.
So what comes next? It is not known which country Kwon will be sent to as he is currently facing criminal charges. of we Department of Justice and Securities and Exchange Commission (SEC) and his home country, KoreaStill, the US and South Korea appear to be seeking Kwon’s extradition. (I’ll keep that in mind for how this unfolds.)
US federal prosecutor reportedly They said they would seek Kwon’s extradition to New York. South Korea also wants Kwon’s extraditionA South Korean prosecutor’s spokesperson told TechCrunch that they are discussing Kwon’s extradition with “relevant parties” as soon as possible. However, a spokeswoman did not specify which country Kwon will be traveling from Montenegro to, how long it may take, or the identities of those involved.
Kwon faces countless criminal cases. A South Korean court issued an arrest warrant against him since Terra/LUNA collapsed in May 2022, and Interpol issued a red notice in September calling on law enforcement agencies worldwide to arrest Kwon. Did. coin of august that he was not charged with anything;
South Korean prosecutors reportedly asked the local foreign ministry in October to revoke the passport if Kwon did not return it by September 15.
The Singapore-based blockchain platform entrepreneur claimed he was not on the run, but his whereabouts are unknown, and he registered an address in Serbia in December. according to reportMost recently, the US SEC indicted Terraform Labs and Kwon for deceiving US investors who purchased the crypto assets Terra and LUNA.
