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2024

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Terra

<h4 data-block-id="e7f1fa1e-ee7c-4160-b230-dae1cae6a904"><strong>Former Terraform Labs CEO Do Kwon is reportedly released from jail in Montenegro. However, Kwon remained under house arrest over the weekend. </strong></h4>
<p data-block-id="e7f1fa1e-ee7c-4160-b230-dae1cae6a904">He awaits the high court’s decision on extradition requests from South Korea and the United States.</p>
<h5 data-block-id="e7f1fa1e-ee7c-4160-b230-dae1cae6a904"><strong>Do Kwon Released From Montenegrin Prison</strong></h5>
<p data-block-id="6936c175-fc9d-461a-b0e6-0777614c459f">US and South Korean authorities want Do Kwon for his alleged participation in Terra’s collapse in 2022. Prosecutors believe the former crypto mogul played a huge role in the collapse that wiped off over $40 billion of customer funds.</p>
<p data-block-id="163a2286-46c8-42b1-9793-28fc127f0e12">Penalties for these crimes are less severe in South Korea than in the United States. US prosecutors filed eight felony charges against Kwon in March 2023. If extradited there, the Terra founder could face those charges.</p>
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 <p lang="en" dir="ltr">DO KWON PLACED IN "RECEPTION CENTER" IN MONTENEGRO AFTER PRISON RELEASE</p>
 <p>Kwon was reportedly interrogated by a local inspector for five hours before being moved to the camp. He is expected to remain guarded in the facility until the local court makes a new decision on his… <a href="https://t.co/c921NzFrMl" rel="noopener noreferrer nofollow">pic.twitter.com/c921NzFrMl</a></p>
 <p>— Mario Nawfal’s Roundtable (@RoundtableSpace) <a href="https://twitter.com/RoundtableSpace/status/1772185451455234318?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 25, 2024</a></p>
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<p data-block-id="d09f322c-2880-47e0-a31f-bff2d83a9dea">Montenegro’s detention chief, Darko Vukcevic, verified Kwon’s release in an interview. He noted that the Terra founder is currently in the police’s custody. Vukcevic told <a href="https://www.bloomberg.com/news/articles/2024-03-23/crypto-fugitive-do-kwon-out-of-jail-but-his-next-destination-is-unclear" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a> journalists, “We released Do Kwon from prison as his regular prison term for traveling with fake papers ended. Since he is a foreign citizen and his documents were withheld, he was taken for an interview to [the] police directorate for foreigners, and they will deal with him further.”</p>
<p data-block-id="5e302c84-f2a5-45ec-9448-7418ac70be51">Goran Rodic, Kwon’s attorney, likewise attested to his release. Kwon’s passport has reportedly been withheld to keep him from fleeing the country. Rodic said he planned on filing an appeal with a court to keep Kwon free until his extradition.</p>
<h5 data-block-id="d6fb2922-adc0-48b7-b733-ef61e8527b46"><strong>Do Kwon head to the US or South Korea</strong></h5>
<p data-block-id="9cb3d46e-b664-4050-bc15-5d5734e505ae">Do Kwon looked all set to head to the US following a ruling from the Podgorica High Court. The Montenegro Appeals Court reversed the decision, citing violations of criminal procedure provisions.</p>
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 <p lang="en" dir="ltr">Breaking: Do Kwon Lawyers are expecting to get the extradition to south korea by Montenegro Supreme Court within 2-5 days <a href="https://twitter.com/hashtag/Dokwon?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Dokwon</a> is already released from prison yesterday</p>
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 <p>— Lunc_Maxi (@Lunc_Maxi) <a href="https://twitter.com/Lunc_Maxi/status/1771979550744080591?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 24, 2024</a></p>
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<p data-block-id="9c3bf71c-bd6f-4db2-a154-40d734047ad6">The ruling appeared to give South Korea an edge over the US. However, the US <a href="https://www.altcoinbuzz.io/cryptocurrency-news/us-challenges-montenegros-extradition-decision-on-do-kwon/" target="_blank" rel="noopener noreferrer nofollow">plans</a> to challenge the decision. US officials could submit an appeal before the Montenegrin Supreme Court. Kwon’s camp, it seems, is in support of him going back to South Korea since it will keep him closer to his family.</p>
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 <p lang="en" dir="ltr">BREAKING: Do Kwon is finally being extradited to South Korea</p>
 <p>The rejection of Do Kwon’s appeal upholds the prior decision by the High Court to extradite him to South Korea, which had also turned down an extradition plea from the US.</p>
 <p>— Xyz (@unkonwncyber) <a href="https://twitter.com/unkonwncyber/status/1770630528149893265?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 21, 2024</a></p>
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<p data-block-id="bd790deb-610a-4f43-8807-18dc470a28e2">Montenegrin authorities arrested Kwon in 2023 for trying to travel with fake documents. The Terra founder was one of the biggest names in crypto before his decline. He joins Bankman-Fried and Alex Mashinsky as some of the most disgraced crypto figures of the last year.</p>
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<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/do-kwon-awaits-extradition-decision-under-house-arrest/" rel="noopener noreferrer nofollow">Do Kwon Awaits Extradition Decision Under House Arrest</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Do Kwon Awaits Extradition Decision Under House Arrest

Altcoin Buzz

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