Developments regarding the Terra incidents and Do Kwon, one of the main reasons for the long-lasting tension in the crypto ecosystem, continue. An important decision has been made regarding Do Kwon’s long-standing extradition.
A critical decision was made by the court in the capital of Montenegro, Podgorica. In an update published on the institution’s website, it was reported that Do Kwon’s extradition 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.
The final decision regarding Kwon’s extradition will be made by the Minister of Justice of Montenegro after completing a four-month prison sentence for document forgery in Montenegro.
Following his arrest in Montenegro, Kwon continues to face an ongoing investigation in South Korea regarding the TerraUSD scandal that emerged last year, as well as multiple fraud charges by US federal prosecutors in addition to the existing legal charges in the United States.
According to the information received, the Montenegrin Supreme Court confirmed the four-month prison sentence given to Kwon and his partner Han Chang-Joon for document forgery, rejecting their appeals and raising the possibility of Kwon’s extradition to South Korea or the United States after completing his sentence in Montenegro.
Another name associated with the Terra Luna incidents, Daniel Shin, continues to face problems. There are opinions that Shin is also involved in the events. In April, Daniel Shin, co-founder of Terraform Labs, was accused of violating capital market laws in South Korea and had $185 million of his assets frozen by prosecutors. Shin denied the allegations, stating that he had no role in the company’s downfall and had left two years ago.