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According to Bankless, Do Kwon (The founder of Luna/USDT) has been arrested in Montenegro:

https://twitter.com/BanklessHQ/status/1638891838881910785

After six months of running and hiding, they finally arrested him. Even as he claims not to be on the run and is open to answering any government calls,
 
His case will now be open, and now that almost the entire country's government will be demanding he get his hands on them, where will he be prosecuted? 
Or will it be Singapore, where its office is based and registered?

Finally another piece of trash from the crypto industry has been caught. I hope this bastard is punished for his mistakes.

Better wait for another confirmation, their source is a Twitter user that claims:


I find it a bit weird and stupid for him to use a European airport, despite not being part of the EU Montenegro has a ton of extradition treaties, and with him on the Interpol list, there is no chance they will not deport him. Pretty a stupid move, he should have fled to some south Asian country instead.

This is interesting! But, can anyone alo help me in finding Podgorica as I want to go there and see if crypto as a currency is widely accepted.

Don't know why he chose this place but I bet there are various ways to hide yourself from banks and government in that piece of land known as Podgorica :D

I will wait for more confirmation and official announcement

I agree that Europe is one of worst areas on the world if someone want to hide their identity and run away from Interpol. If someone want to hide, he should choose a remote area (but still has Internet as Do Kwon still used it) and little or no international cooperation, extradition like Asian countries.

The arrest if it is real, does not mean much for Terra Classic project and investors or traders who lost their lives with Terra LUNA and UST death spiral in the last year.

Terra Classic changed to be like a community project and will not be affected by Do Kwon arrest.

Well, that is great news, right? Montenegro isn't a part of the EU and is a small, quiet country, which is why Do Kwon probably assumed it was a good place to lie low. It's inspiring that the plan didn't work out, and he got arrested there. Scamming people (or grossly mismanaging their funds) who believed in a project and gave lots of money to it is certainly something that should be punished by law. My hope, as usual, is that as much money as possible will be returned to the victims. As for what else happens to this guy, I don't really care. I think the most important thing about financial crimes is to force the perpetrator to reimburse the victims.

But wait, while you all are at that.

Don't you think this topic does not belong here since this is bitcoin discussion and this Luna is altcoin, please with all due respect as a staff legendary,  correct me if I am wrong.

It is a big relief if confirm that the founder of Luna/USDT which crashed a few months ago has been arrested, just like Sam Bankman the CEO of FTX who is also under custody for similar crimes.

I think OP is  likely correct because I did a search for it and cointelegraph  is up with the news as Do Kwon is being arrested. His arrest is long overdue as he has been on the run for months claiming he is open to any government call in answering any questions as to what really happened to Terra chain and investors funds.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://cointelegraph.com/news/do-kwon-reportedly-arrested-in-montenegro/amp&ved=2ahUKEwj1sdvZn_L9AhVOi_0HHdX5DIYQFnoECBcQAQ&usg=AOvVaw1qvAsSgC9nnUAZYtdTX7y-
According to the reports, he was arrested at podgorica airport, Montenegro with "falsified documents" so I was wondering why he did use fake documents in traveling if that be the case. I thought he said he was not hiding from anybody and is willing to respond to any call from the government in answering any questions.

Yeah, I'm a little surprised that it took so long. He will take his punishment, but he won't give back the money he took away from investors.

The Montenegrin Minister of Internal Affairs also announced the news on his T account, although the identity has not yet been confirmed. However, I am not surprised that De Kown was caught in Montenegro, because his last known location was Serbia, where he hid for months. He obviously had badly forged documents and thought he would pass under the radar - and if he had been at all smart, he could have flown from Serbia to Russia without any problems and been out of reach of anyone.

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That it is a small country is true, but that it is peaceful and politically stable is far from the truth. The country is actually torn between the local Montenegrins and the Serbs who, with the help of Serbia, are trying to maintain their political influence. Although I would put Bosnia and Herzegovina in the first place as a potential area where war can break out, Montenegro is in second place, considering that Russia (https://en.wikipedia.org/wiki/2016_Montenegrin_coup_d%27%C3%A9tat_attempt_allegations) also has an influence on everything that happens there.

Arrested with false documents isn’t a good look for Do Kwon at all. That will likely mean he won’t be able to bail out of jail due to being a flight risk (as if he wasn’t already), which means it’s possible that Do Kwon may not see himself outside of a prison for many years. I’m not sure what he was thinking. It seems like he let the money get to his head.

Finally, He should faced a sever jail time to serve as an example on many crypto criminals that scamming their community. Justin Sun is next for doing some shitty manipulation on their project and slowly launder funds out of the treasury.

Is this means that refund might be possible for all the victim of Luna/Ust scam? He obviously took away the company reserve funds that supposed to be supporting the token price stability.

Good news, if true.
We should wait for further confirmation from authorities before assuming this is completely true. We all know some Twitter accounts are willing to spread unconfirmed stuff in order to be the firsts ones to have the attention of the crypto community.

If he is indeed in custody, i hope he gets accused and tried in court to face those investors he damaged and we get to know the details of the prosecutor.

One must wonder how much Bitcoin he still has hidden after the fallout of his project, I bet Montenegro is quite expensive.

That was really a wrong move for someone in such a shitty situation as he is right now. After clicking the link to the post, I saw one comment under the post and it made me curious. Like is the arrest really necessary? Is he the first person with a failed project? Why his own receiving special attention from the government and public? Or is there any crime against him other than Luna crash that I don't know? Someone should clear my doubt please.

Well, who is to say that Serbs woulnd't arrest him with fake documents if he tried fly to Russia? But even if he managed to reach Russia, I am not so sure that he would find any protection in Russia as he is not Snowden or someone of that caliber so Ruissia has some actual interest to protect him.


I woulnd't get my hopes up just because he got arrested. Sure, they may force him to give the rest of the money that he still has, but that would be nowhere near to make everyone whole.

True, we can be sure that he is holding a big mount of money in cryptos, and he must be hiding them as a pro, I mean will be almost impossible for the governments to get access to his coins. And that's bad because if the government can't access his coins then will be impossible to pay back the money to all the scammed users.

But in the end, is nice to see how there is some karma, and people should learn the lesson from this. Scammers will end up in jail and that was the main lesson.

Even if the prosecutors managed to have access to his money, that would not be enough to cover the losses which were caused by the failure of his project, because this was not a conventional pull-rug.

This was not about Do Kwon selling a token and then withdrawing the liquidity off Defi (like has happened before), both Luna and Terra were available in huge markets like Binance, which means that the value of the tokens escaped from the holders through short positions made by traders, which in the eyes of the exchange, can be considered to be clean money earned through speculation.

It is more likely Do Kwon, after realizing he was done, took some millions of USD in BTC (from the Terraform labs Treasury) and went fugitive.

At best, the prosecutors have proof of his expenses while in the run and can pressure him into handing over his private keys, in exchange of less years in prison.

What is planted is what is harvested. Yes, right. Fraud not only harms the individual who falls victim to the scam, it undermines trust in the cryptocurrency industry as a whole and Holding individuals accountable for their actions is equally important for promoting ethical behavior and transparency within the cryptocurrency industry.

This will not only protect individuals from scams and scams, but also encourage the growth and adoption of cryptocurrencies as a legitimate form of payment and investment and for companies to act with integrity and transparency to build trust and drive industry growth.

I can't believe that he has been arrested and he is the biggest scammer and he scammed a lot of money and also many people lives have been destroyed because this piece of shit. And There are other scammers like SBF the founder of FTX.
There is a friend of mine and he lost almost 25000 dollars in Terra lunna tokens and he was too broke and that's why I don't go to these ponzi schemes. And that's why be alert and also safe.

He was actually hiding in Serbia most if not all of the time.
Why he appeared in Montenegro is not known now.
I suppose somebody ill advised him.

The arrest of Do Kwon is a piece of good news in the cryptocurrency industry.  This together with SBF's case will give a warning to people that wanted to create a company in the cryptocurrency industry that cryptocurrency is not a playground for scammers, ill-intent and incompetent people anymore.


If the assumption of many that he has the funds, then anyone that is interested in money will protect him.  Aside from that, I believe that he goes in and out of a country throuh backdoor method since he has the money to pay for these illegal services.



More or less the majority of the fund is probably safely hidden somewhere.  Do Kwon can just give part of it and deny the rest. After all he is the one that has access to the funds.

Serbia or Montenegro, he was standing out there like a sore thumb. There's not many Koreans in Serbia, just like there's probably even less of them in Montenegro. It's esy to spot a guy that looks foreign and the police has a list of fugitives so it's only a matter of time before the guy looking Korean and not speaking the local language is arrested.

As much as I don't like authority and government intervention, Do Kwon deserved to be put in jail. I hate scammers even more than governments. I hope he's stripped of all his money and made to work to pay up his victims.

The recent news brings both positive and negative aspects for the crypto industry. On the one hand, Luna holders may face another potential drop in value due this news. On the other hand, it is crucial to hold scammers accountable for their actions, as it helps prevent others from engaging in fraudulent activities.

Investigating scams is vital to uncover how they occurred and where the funds went. This information can be used to prevent similar incidents in the future and protect innocent individuals from harm.

Seeing that some of the reports are still confusing, in fact there is the word "allegedly" which is indeed one of the things that is quite ambiguous in my opinion.
It would be great if indeed he was caught after a hunt that was actually quite long for this one man. But until now there has been no further confirmation whether it was him or someone else. I hope it's true that it's Do Kwon :D

Good news for holder of Luna coins network because the owner for this coins Do Kwon have been arrested in Montenegro, I think Do Kwon deserves to be jailed for quite a long time considering how many victims have suffered huge losses on Luna network coins. Hopefully there is no bail that can release Do Kwon in a Montenegrin prison considering that a few months ago there was news that the United States government released him after receiving bail.

However with the fund scam by him need questionable after arresting, will Montenegro policemen take down all Do Kwon assets or the Luna owner have tricked how to manipulated about his assets although have been arrested.

About damn time the bastard gets his comeuppance. The sheer damage and terror he brought upon the industry with all his shenanigans is something that will always be talked about even after all of this is said and done, not to mention the countless people he scammed of hard-earned crypto and money all for nothing. Also makes me laugh that he's saying he's not on the run and evading arrest when you can see him jumping in and out of countries like it's an island hopping tour all to evade the law. This is just the start of the journey for recompense that the victims of the Luna Crash will be able to receive. There's more to come to this and I hope the law's not too lenient with him just like with how they dealt with SBF's case.

If that's for real then that's the consolation his victims have got. Good for the authorities in Montenegro that he's arrested there. Well, with wealth and influence I think that he's still going to live well even under arrest.

Hopefully, there will still be some funds and assets that will be taken into custody by the authorities so that at least there can still be some distribution of wealth to most of his victims or else just take it and freeze it.

And what's much better to see, there's not that much impact on the market and that's why this is truly a good news.

Doubtful, someone like Do Kwon thinks that he is above the rest so it is unlikely he followed the advice of anyone else, this was probably his idea and he thought that it was a good one, which is fortunate for us as if he was smart he would have fled to a country that was not willing to extradite him for his crimes, or at least he should have avoided a place like an airport which has very strict security protocols and even if he could get around them a few times he was going to get eventually caught if he tried to do this more than once.

It is bound to happen to scammer/fraudster especially that his case is one of the biggest in the whole cryptocurrency history and cause a massive ruckus and a start of a bear market. Too much of his sh*t were discovered after that incident that can be use to him in bringing him to jail. Most of the biggest crypto fraudster and scammers that has names just like crypto queen if you remember her who run from the law for five year straight!

Btw, This is not a ponzi scheme. I don't know why you mentioned ponzi scheme here.

From what I see here is that Do Kwon is trying to deny they he is not running, and he has been traveling and also hiding but on second thought,  is like Do Kwon is getting enough information from someone that's why it took the police 11 months to catch him, and while watching the video on tweeter I see that Do Kwon was with a document, but what document was that?
Thanks to the police 👮  that got him arrested, and let him face the penalty of getting away with people's's hard-aimed coffers, $ 40 billion is not a little money to talk about.

Come on, if you're a Luna holder after Do Kwon dumped everything and went into hiding and after there was an international warrant for his arrest, you must be either an idiot, or in love with that shitcoin.

There's no either, or here. Scammers should always be held accountable, that's it, period.

good news if true, accountability for his actions must be accounted for, even though the funds cannot be returned at least he has been in prison for his actions whether intentionally or not about money loundry

Let's hope this suspected  Do Kwon according to the report is the real one. Let the news just be solid.
But eve if he is taken to court today and be charge of his crimes what difference will it make if not just adding few cash to the Fed's account and then a prison serve if possible. I don't really think he have 40 Billion Dollars any where which can be used to pay back all the customer's which funds where mismanage..
I just hope something positive come out from this news.. really feel pity for all the victims.

No probably do know never bail out the jail after what happened to UST. the world will follow the case

It would be great if somebody indeed confirmed the news rather than merely speculating that it was him.

And why are people still holding that garbage token LUNA anyway? It will never rise up again. Not after it brought the entire industry to its knees.


The market is two-fold, money lost through the depreciating value of an asset does not go through a black whole, it goes to the person(s) who shorted it - ironically the guy who did lost it on FTX (and whoever benefitted from shorting Alameda Research now has the value).

No-one's getting their money back from this guy.

It's about time he was caught; he's at fault for the billions lost by screwing over his investors. Eventually it would happen; he couldn't hide forever, especially as a Korean on the European continent. However, he and Luna were already a lost cause; it wasn't like he'd be able to continue the development of Luna, and his arrest won't have any serious effect. How much worse can it get for its investors? USTC, LUNC and Terra have hit rock bottom for months now; they can't go much lower.

The news originated from Montengero minister of internal affairs and not from some random guy so it was very likely that it was Do Kwon. Anyway, seems like the man arrested at Montenegro airport with falsified documents is indeed Do Kwon as Interpol confirmed it to CNN.




I guess some people lost so much that its easier to hope they will recover from their loss rather than accept the truth.

Good riddance and a job well done. But sometimes I wonder why these crypto riff raffs take too long to be pinned down, esp with the level technology has advanced, because I don't think that dude is smart enough to change his features, hehee. Imagine been charged with eight counts of fraud including a conspiracy to indulge in market manipulation, such a pin down is really welcomed. But my question is, the more such individuals are wiped out, more unscrupulous ones keeping rising up. How do we contain this menace to the crypto world?

He will be deported to Korea according to the statement of a Montenegro judiciary official


https://www.pobjeda.me/clanak/juznokorejski-drzavljani-zadrzani-nakon-saslusanja-u-odt-u

It's important to remember that an arrest doesn't necessarily mean guilt, and we should wait for more information before making any assumptions.

Surprised he didn't last longer, really. Thought his money would have taken him far.


Probably easier to move around there, true, but then he probably also fears the retribution that he is likely to run into with the deep networks of triad members who would have found him a bit more easily than in Europe. I'd wager he felt safer dealing with the higher risk of formal enforcement than with the lower but deadlier risk of informal street justice.

I somehow believe that he would have done much better if he had flown from Serbia than if he had gone to Montenegro. A few months ago, there were rumors that he was last seen in Serbia, and it is logical to assume that he arrived in that country by plane and passed control at the airport. The question is how the facial recognition system they use when checking every passenger didn't detect it in Serbia, but it did in Montenegro?

Serbia is a country where you can get almost anything you can think of for money, and it also has direct flights with Moscow. De Kwon obviously wanted to travel to a slightly better location than Russia, and that cost him his freedom. As for me, let him rot in prison for the rest of his life, even though the damage he caused is measured in tens of billions of $ that no one will be able to compensate for, the fact that he is no longer free is still a small consolation for the victims.

Maybe he came to Serbia before Singapore issued arrest warning and cancelled his passport and only after that happened he got stuck there? My guess is that his plan was never to actually stay in Serbia and instead move someplace safer as Europe is generally a very bad place to hide but since his passport got cancelled, he had to make another plan (getting fake documents and then trying to fly from Montenegro).

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By the way, no wonder that he got caught as allegedly this is the document he tried to use (I sure hope there are some movie connoisseurs here). :D

https://i.postimg.cc/cLfT33Cn/mclovin.jpg

In fact, I'm disappointed that these catch-ups have lasted so long. Why did it take them so long to arrest him? It feels like they haven't even dealt with this issue all this time.

What you say is possible, although we know that Interpol issued a warrant for him very soon after the collapse of his project and at the time when the news that he was in Serbia appeared, his original passport should have already been canceled and I doubt that he used it. However, it turned out that even those who have a lot of money do not have to be intelligent, because people of that profile (internationally wanted) hire a private plane/ship or whatever and disappear without having any problems with border controls.

Rich and spoiled characters like De Kwon or Bankman probably consider all this to be a game with high stakes, and time will tell if the game was successful or if they will become roommates in prison.

I saw some reports that said it was still not certain because there was still no further confirmation about this, but it was said that during the arrest there were two people who were arrested after they tried to get on a plane to Dubai. The two of them had forged Costa Rican and Belgian passports which were allegedly Do Kwon's. I haven't found any information when it's been confirmed.

Talking calmly, these Luna holders seem a little naive, even though they are actually aware that their condition clearly will not be as before and with their current condition I can feel how frustrated they are ;D

Do Kwon wasn't superbad, rather supergreedy. Somebody should tell his prison guards to frequently perform strip searches as he might be hiding a micro sd card full of people's crypto ;)
Also, I'm not surprised he got caught. The license expired in 2008 8)

He wasn't very smart. According to the news, he was using a Belgian and a Costa Rican fake documents. Somebody should tell him there aren't many people who look Asian in Costa Rica, and he'd have a better chance posing as a citizen of an Asian country.

That's for sure. Just remember when someone warned him on Twitter few months before shit hit the fan how easily his stablecoin can get rekted and he mocked and dimissed the guy, instead taking it as a warning. Regarding them being roomates, won't Do Kwon be extradicted to Singapore?


I think that Do Kwon is far from stupid (at least based on his CV prior to Terra) but he is obviously not a criminal mastermind because of the way he got caught. I mean, who in the right mind goes to Europe when you are on the run and have access to all that money?

There is also that video in which he says that he enjoys watching companies fail, and who knows, maybe it's some pathological disease that culminated in him destroying even his own project. Although some information circulating on the internet says that this is not the first project he has failed, it is certainly the biggest.


His extradition was also requested by the US, now it's just a question of who wants him more, or better said, who has better connections in Montenegro. In case the US shows that they really want it, I think that their allies (South Korea) will make it possible for them.

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You were also right about the revocation of his passport, and it seems that it was valid at least until September 15, 2022, and maybe even longer, which means that he entered Serbia or Montenegro with his passport.

Source (https://www.techtimes.com/articles/289462/20230324/us-south-korea-requests-do-kwon-extradition-terra-luna-collapse.htm)

I may not have read all the latest news, but the Montenegrin police detained a man who looked like Do Kwon. His fingerprints have not yet been verified and the data has not been transferred to Korea.
____
A little humor. When a person is detained in Montenegro, whose capital is several times greater than the GDP of Montenegro, the Montenegrin authorities will be interested in cooperation with him ;D

His suspension means that there is a file of conviction awaiting him, and I, the investigators, are suspicious of him, and this is of course based on evidence and facts. If he wasn't guilty, why did he disappear after Luna collapsed. It doesn't take much intelligence.
The most important question remains who will be responsible for his request from the country in which he was arrested, Korea or the United States. In any case, I do not think that he will be able to prove his innocence, nor to compensate the users' losses.

Hah you indeed missed latest news as Interpol already confimed that they verified fingerprints and that person arrested a couple of days ago is indeed Do Kwon. Now the only question is who will get him, South Korea or Unites States. Former makes more sense as he is their citizen and they issues warrant first, but we all know how "persuasive" US can be.

Do Kwon  (https://www.dlnews.com/articles/regulation/do-kwon-formed-company-serbia-after-interpol-red-notice/)registered a company in Serbia just three weeks after Interpol issued a Red Notice for him in September, DL News can reveal.

Official records obtained from the Serbian Business Registry show Kwon opened a company called “Codokoj22 d.o.o. Beograd” on October 12. The address listed is in the old town of the Serbian capital’s city centre.

It is not possible to search the Serbian Business Registry by the names of the individuals. Registry officials confirmed to DL News on Friday that two South Koreans named Do Kwon and Han Chang-Joon were listed with a company number.

Good news he was finally arrested after all this time, but what next?

Will the case be reopened, will he be able to return the millions of dollars the investors lost in Luna?

I doubt he will be able to, most likely he will have laundered the money he stole and they will not find enough money with him to compensate those affected.

This is really a strange statement. Do you think he is not guilty of anything? He was the CEO of Terraform labs and he is only responsible for this TerraUSD and Luna crash scam. People have hard earned money invested in this stable coin and he was unable to peg it to a dollar, even though he claimed that he has a lot of funds for backup/reserve in case of a mishap.


No money will be refunded to LUNA investors, and it was really a disaster for all the investors who trusted this project. Luna was a very hyped project and i think all the cryptocurrencies investors had some part of the portfolio in this coin and everyone has lost money in this scam.

@safar1980, thank you for sharing the article, it is very interesting information and just one more proof that Serbia is a country for every criminal looking for a safe haven. You can live there without fear of being caught or extradited, and for $1 you can open a company and continue what you were doing before.

One detail from the article is particularly interesting to me, because it claims that investigators from South Korea visited Serbia in January of this year, but the Serbian authorities allegedly did not know where De Kwon was, even though he had officially registered the company under his own name. Knowing their mentality, I believe that they wanted to avoid the arrest happening on their soil, which they managed in the end - and now I wouldn't be surprised if they concluded that De Kwon and his helper were in Montenegro the whole time.

I think that in not rich poor countries you can find a refuge for any criminal. He could spend some of the stolen capital to legalize himself in this country. But if he is deported to the US, then investors will not receive money.

https://protos.com/do-kwon-faces-grim-year-in-montenegro-jail-lawyer-says/
“Upon arrest, you’re held in quarantine for 10 days to ensure you’re not suffering from Covid-19,” they told Protos. “The rooms are pretty okay — you’re sharing with just one or two people. But after the quarantine period, detainees are moved to a general facility along with others awaiting trial.”

The conditions here are far worse than quarantine. “Rooms are 8 meters squared and very crowded,” the lawyer explained. “There’s about 10 to 11 people in a room — there’s usually not even a bed.“

Regarding which country may ‘win’ extradition, Kovac explained: “When we receive several extradition requests it’s based on several factors — the severity of the offence, the location and the time, and the order that we received the request, and several other factors.” Ultimately, it’s up to Montenegro courts to decide, but Kovac’s comments suggest that South Korea has the upper hand.

I think Do Kwon's actions in the crypto world as CEO of Terraluna are classified as acts of robbery, fraud, theft and public deceit, I consider it an obligation and must be punished with severe punishment for Do Kwon by the local authorities.

Do Kwon's arrest can be a deterrent effect and fear for other CEOs who commit acts that are not commendable and harm the wider community, Do Kwon needs to be given a severe punishment that is truly deterrent.

I am personally happy to hear that Do Kwon was arrested, even though I was also one of the victims of LUNA some time ago, I hope the authorities give him the appropriate punishment for his actions to people around the world.

It does not, but in case of Kwon, I'd say he's guilty but his arrest doesn't yet mean that he'll be found guilty and sentenced by a judge. He should be though.
I'm not sure if the coin was made as a scam from the beginning or he decided to make it a scam along the way, but the end result is the same - luna was a scam coin.
When it imploded the guy took all the money that was left and went on the run. Karpeles was guilty of cooking his books, but he didn't run. It's sad that there's so many dirty people in crypto. It's only a matter of time before CZ takes the fall like Do Kwon, SBF and others.

Do Kwon’s Passport Has Become Fatal for his Arrest; Report Says (https://coinedition.com/do-kwons-passport-has-become-fatal-for-his-arrest-report-says/)
FatMan tweeted that Do Kwon was arrested as the police became suspicious of his fake passport.
The analyst referred to DLNews’ post that explains the interview with Haris Sabotic.
Sabotic told that two wanted Koreans were caught on suspicion of using false Costa Rican passports.

https://www.benzinga.com/markets/cryptocurrency/23/04/31865172/do-kwons-lavish-serbian-hideaway-inside-the-crypto-magnates-secret-sanctuary
Serbian authorities have confiscated a €2 million luxury apartment in Belgrade where Terraform Labs founder Do Kwon sought refuge during a six-month pursuit, according to Serbian prosecutor Branko Stamenkovic.
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This story has a big sequel. While Do Kwon is being held in a good prison in Montenegro for a fake passport, some of the money that will be useful for the budget of Montenegro will be taken from him. I am still sure that the authorities of Montenegro will not soon give the golden antelope to the USA or Korea.

This is a big catch for Serbia and they will definitely not let others intervene first because this can be considered as an advantage especially in this case the 2 extraditions that were arrested because it was not only Do Kwon but also Han Chang-joon who was also one of the officials responsible.

from here there are also some conditions where he is currently asking for a motion to have the charges dropped by the SEC on the grounds that the SEC's claims are invalid in its charges.

Here is the official court documents by the US:

https://i.imgur.com/U9KcLtG.png

https://downloads.coindesk.com/legal/United_States_v_Kwon.pdf

So let's see if Montenegro will give him up to the US. There could be arrangements between the two though that could favor Montenegro in the end and US receiving Do Kwon and be officially charge by them.

I have a feeling that he will be extradited very soon.

^^ 8 counts to be exact, United States of America vs Do Kwon.

- Count One (Conspiracy to Defraud)
- Count Two (Commodities Fraud)
- Count Three (Securities Fraud)
- Count Four (Wire Fraud)
- Count Five (Conspiracy to Defraud and Engage in Market Manipulation)
- Count Six (Commodities Fraud)
- Count Seven (Securities Fraud)
- Count Eight (Wire Fraud)

I don't know how Do Kwon and his cohorts can win this case against the US States Attorney. And just imagine if Do Kwon and SBF are in the same jail facility, hehehe.

And I read that he can spend another 6 months or more in a prison in Montenegro. Even the extradition of criminals from Europe to the United States can take a year or more.
And then the Montenegrin authorities will act according to the circumstances and try to keep such a rich scammer on their territory for as long as possible. My theory still has a right to exist until Do Kwon is extradited.

Not sure if that is the best move for the Montenegrin authorities. I mean what will they get from keeping Do Kwon in their prison? So it's better for them to really extradite him, it's just the question on who is going to get him first, US or South Korea? Both countries has made a official request already. So let's see, because it seems that they are keen on prosecuting Do Kwon first, forged documents and after he served his sentenced, he might be extradited.

S.Korea, US seeking extradition of crypto entrepreneur Do Kwon -Montenegro (https://www.reuters.com/technology/skorea-us-seeking-extradition-crypto-entrepreneur-do-kwon-montenegro-2023-03-29/).

The only thing that I can see that it can be expedited is the the US putting pressure on the government of Montenegro to hurry up on their cases against Do Kwon for falsifying documents just to be able to enter their territory.

And if that is the case then I see the US getting their hands and then the cases filed will go and move on. So it's a lose-lose for Do-Kwon although he can hire a good lawyer to defend him. It's even reported that he send money to his lawyer before the eventual collapse, so for sure he is preparing very hard to fight this one out.

While Do Kwon is in prison in Montenegro, many important events can happen in the world. The US wants to take money from Do Kwon. If he does not give them back, he will be in prison for life. This is the rule of a strong country, which can dictate terms to other countries.

Not sure what important events though that might affect Montenegro to extradite or not to extradite Do Kwon to the US.

Of course, what's US after is the money that Do Kwon still have in his pocket, it's not that they are going to get it and confiscate for themselves, they will have to liquidate it as per the charges they have on him. Then once his assets has been liquidate then it could the claimants or the victims can get at least part of the money they've lost, I'm talking about US citizens here and not the totality of the victims, (there could be South Koreans and other nationalities for that matter).

Extradition from Montenegro can last more than a year, then another trial in the United States can also last a long time. The injured party then needs to prove the damage in order to receive compensation. Then the commission and the procedure for compensation for damage will be formed. Ordinary people will not receive anything or the services of lawyers will cost them more.

Yes and that's why US is really at the tail of Do Kwon because they want to pay compensation right away. And this is not the first time that US will exercise their extradition with Montenegro, there was a couple who fled to that country when they pull a scam for a $20 million fraud.

https://www.justice.gov/opa/pr/fugitive-couple-extradited-united-states-montenegro-begin-prison-sentences-20-million-fraud

So for me, sooner or later Montenegro will extradite Do-Kwon in the States and then face the charges and liquid his assets to pay for all of his victims. Of course lawyers are going to be paid, that's part of their job. But Do-Kwon has a lot of assets and there could be more unravel in court proceedings.

20 million is a penny compared to what Do Kwon has. If Do Kwon is extradited to the US, he will face a long prison term. But American law is very very interesting.
If he agrees on cooperation and gives up the stolen assets and surrenders his accomplices, then he can serve a short term of 3-7 years in a good prison

It looks like Do Kwon (and his buddy who was arrested with him) will be released on $436k bail each, which is really peanuts for him. This is just ridicolous, guy was arrested while trying to flee the country using private jet and fake documents yet Montengero court still plans to set to release him.

https://www.theblock.co/post/230575/do-kwon-bail

@Rikafip, I read the news today, and I must say that I am not at all surprised by this decision, because this scammer did not come to this area by chance, but he knew very well that everything can be bought here with money, and quite cheaply. Apart from that, Montenegro does not have an extradition agreement with the US and South Korea, and Kwon claims that Costa Rica's passports are completely legal, and he asks for this to be checked because there is supposedly documentation that can prove it.

As for the release, the authorities say that they will be housed in an apartment guarded by the police.

True, he didn't open company in Serbia for no reason and ended up hiding there, but I still don't think that Montenegro will just let him go to Costa Rica freely. Montenegro is west oriented country (they are in NATO, officials currency is euro and their goal is to enter EU) and I don't think they will dare to ignore US/South Korea request.


Yeah I saw it, that will definitely stop him if he decides to leave.  :D

With the news that the court has granted Do Kwon's bail request and placed him under house arrest.  He also promised to disclose this case as transparently as possible until the end of the trial procedure.  I felt that Do Kwon was cheated by other people but everyone thought Do Kwon was a cheat.  Now let's all give him some time to find the real scam.

LOL. I told you that in Montenegro they will replenish the country's budget at the expense of Do Kwon's money. What do you think, what was the amount of the bribe to achieve such a "fair" court decision?
What will happen next? He will look for a more loyal country that will not extradite him and run away from Montenegro.

You don't know how this works.
Bitcoins will not go to state budget but directly to wallets of state officials.

Tell me how these things are done in Montenegro.
The official bail that the court appointed, I think, will be sent to the country's budget, but the amount of bribes in the form of money and cryptocurrencies may appear in the next criminal case. But this story should not end quickly.
If Do Kwon is arrested in another country, he will tell the police everything.

After Do Kwon's and his buddy first had their bail requests approved and then annuled (prosecutor ofc claimed that bail was too low) in the end they got them aproved again and should be released.

It still baffles me that they even allowed him bail after everything, let al;one setting that ridicolously low amount for something as rish as he is.

Do Kwon is accused of trying to "travel with fake documents." Formally, this is an adequate pledge for such a crime. The more time Do Kwon spends in Montenegro, the more benefits there will be for the country. But I'm sure that Do Kwon will look for another country to stay and run away from Montenegro.

https://www.digitalasset.works/news/articleView.html?idxno=3271
"All 5,292 BTC (bitcoin) (approximately 217.6 billion won) were confirmed to have been withdrawn from a virtual asset wallet owned by Kwon Do Hyun, CEO of Terraform Labs (TFL), on July 3
digitalasset discovered data on the blockchain that 5292 BTC was transferred to an anonymous wallet that was never in the transaction history of CEO Kwon on July 23rd."

https://cointelegraph.com/news/do-kwon-extradition-montenegro
Kwon extradition approved by Montenegro court
"Montenegro’s minister of justice will make the final decision on Do Kwon’s extradition to either South Korea or the United States.
The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States.

The High Court of Podgorica has determined the legal requirements for Kwon’s extradition, according to an official statement posted on the court’s website on Nov. 24.

As the court approved Kwon’s extradition to either the U.S. or South Korea, the final decision on his extradition will be made by Montenegro’s minister of justice, the announcement notes."

_____
The US authorities gave all the upstarts a slipper on the head. SBF is arrested, SZ pays huge fines, Justin Sun's projects are constantly being attacked by hackers by accident.
Soon the big guys will come to the crypto market.

According to WSJ, Montengero made the decision to extradite Do Kwon U.S and not South Korea, which is no surprise at all given the relations between Montentegro and US. I can imagine that he is not happy with that decison at all.  ;)

Poor Do Kwon.
I wonder how many assets he has already left in Montenegro..?
Unlike SBF, he has nothing to cover the losses of American citizens and he could receive life imprisonment in the United States.
This is how the fate of another cryptocurrency market manipulator will end.

Montenegrin Court Overturns Decision To Extradite Terra Do Kwon to the US  (https://dailyhodl.com/2023/12/19/montenegrin-court-overturns-decision-to-extradite-terra-do-kwon-to-the-us/)
The founder of Terraform Labs, the crypto firm behind the Terra (LUNA) collapse has won an appeal in Montenegro over being extradited to the United States.
According to a statement from the Montenegro Appeals Court, the decision to extradite Terra founder Do Kwon to the US or South Korea has been overturned.

No offense to Montenegrins (if there are any on the forum), but in that country, as in most Balkan countries, you can buy not only a judge, but also the entire court. It is not at all clear to me why the whole thing is based on an allegedly fake passport for which he was arrested, when there are far more serious charges worth tens of billions of dollars for which this man is wanted by South Korea and the US?

Montenegro's public debt is falling :) Hahahah
https://montenegrobusiness.eu/the-total-public-debt-of-montenegro-at-the-end-of-last-year-amounted-to-eur-4-1-billion/


Do you really think that this money should be taken away by the US authorities?
When a guest arrives in such a country with more money than the country’s budget for several years, no one will let him go until this money runs out.
This whole game is just for the sake of money and not for the sake of justice. Investors will not get anything back. It is better that this money or most of it remains in Montenegro.

https://storage.courtlistener.com/recap/gov.uscourts.nysd.594150/gov.uscourts.nysd.594150.149.0.pdf
"In this case, the Securities and Exchange Commission (“SEC”)
alleges that the defendants -- Terraform Labs Pte. Ltd., a “cryptoassets” company, and its founder, Do Hyeong Kwon –- orchestrated
a multi-billion-dollar fraud involving the development, marketing,
and sale of various cryptocurrencies. The SEC’s claims, all brought
under the federal securities laws, include a claim that defendants
offered and sold unregistered securities, claims that defendants
offered and effected transactions in unregistered security-based
swaps, and claims that defendants engaged in fraudulent schemes to
lead investors astray. One of the alleged fraudulent schemes is
that defendants misrepresented that one of Terraform’s crypto
asset securities, UST, was permanently pegged to a $1.00 price
through an automatic self-stabilizing algorithm, rather than
through the intervention of a third-party trading firm with whom
defendants struck a secret deal. .."

___
To put it simply, 72 pages indicate that the court was on the side of the SEC in that Terraform Labs and Do Kwon sold unregistered securities of UST, LUNA..
There will be a jury trial on January 29, 2024
https://cointelegraph.com/news/breaking-us-court-rules-favor-sec-do-kwon-terraform-labs-case

It's important to remember that an arrest doesn't necessarily mean guilt, and we should wait for more information before making any assumptions.

This is unfortunately not the case.
Of course, without a court decision there will be no verdict, but with such a large body of evidence and the number of victims in the USA or South Korea, Do Kwon will receive a very long prison sentence. I studied the laws of South Korea and experts say that in the USA he has a better chance of entering into an agreement with the prosecution. In South Korea the laws are stricter.

US SEC willing to delay  (https://www.reuters.com/legal/us-sec-willing-delay-terraform-labs-trial-do-kwons-extradition-2024-01-15/)Terraform Labs trial for Do Kwon's extradition
The U.S. Securities and Exchange Commission agreed to delay a civil trial against Terraform Labs and co-founder Do Kwon for allegedly orchestrating a $40 billion cryptocurrency fraud, so that Kwon can be extradited and attend.
In a Monday filing in Manhattan federal court, the SEC said a "modest" adjournment of the Jan. 29 trial was justified, based on statements from Kwon's lawyer that Kwon wanted to attend, agreed to extradition from Montenegro, and could be in the United States by mid-March.

I'm cynical about news like this.
I can assume that Do Kwon’s lawyers are trying to reach an agreement with the US authorities. In the USA, you can get a favorable agreement and get a short prison sentence. In Korea he has very little chance, and the laws there are much stricter.

https://techcrunch.com/2024/01/21/terraform-labs-files-for-chapter-11-bankruptcy/
"Singapore-based Terraform Labs (TFL), the company behind digital assets TerraUSD (UST) and Luna, filed for Chapter 11 bankruptcy in Delaware following the collapse of its cryptocurrencies in 2022.

Terraform Labs, which confirmed its Chapter 11 bankruptcy protection filing, said the filing is “a strategic step that will enable it to continue its operations and support litigation pending in Singapore and U.S. litigation involving the Securities and Exchange Commission.”  The outfit also said it would “meet all financial obligations to employees and vendors during the Chapter 11 case” without requiring additional financing."

Do Kwon (https://www.coindesk.com/policy/2024/02/08/do-kwon-gets-minor-relief-from-extradition-wins-second-chance-to-appeal-extradition-from-montenegro/) Wins Second Chance to Appeal Extradition From Montenegro
 
The Montenegrin High Court decided for a second time in December that extradition requests for Do Kwon held up.
Kwon's lawyer told CoinDesk last month that his client would be appealing the High Court's decision.
Former CFO at Terraform Han Chang-Joon was extradited to South Korea by Montenegrin authorities on Monday.

Former Terraform Labs CFO Han Chang-joon  (https://www.coindesk.com/policy/2024/02/05/former-terraform-labs-cfo-han-chang-joon-extradited-to-south-korea-by-montenegro/?_gl=1*1hwt9in*_up*MQ..*_ga*MTE4NDI2OTQwMi4xNzA3NTk2NDQ1*_ga_VM3STRYVN8*MTcwNzU5NjQ0NC4xLjAuMTcwNzU5NjQ0NC4wLjAuMA..)Extradited to South Korea by Montenegro
Han Chang-joon was charged with carrying falsified travel documents alongside Terra co-founder Do Kwon last year.

So based on the article, he is being decided on where they will send Kwon right? Being arrested with false documents? It should've been more right? it's really hard to find the right justice for the people who are affected by Kwon's scam

In Korea, a new law has been passed under which Do Kwon will receive life in prison. In the United States, he will receive several decades of imprisonment if he gives up everything and cooperates with the authorities.
In Montenegro he can buy his freedom and justice because he has a lot of money. Therefore, Do Kwon will try to stay in Montenegro as much as possible.

@crwth, according to my understanding, Do Kwon only succeeded in postponing the extradition decision, but I don't see that in the end he won't be extradited to one of the countries that are looking for him. I read that what he is accused of is that he can get a life sentence in South Korea as well, and I'm not sure what kind of punishment he can hope for in the US.

It is possible that the sentence there would be smaller, because one of the recent topics deals with a fraud of as much as $1.89 billion and the sentences for the perpetrators are 5-10 years in the US. What seems to me is that the South Korean authorities are much more interested in Do Kwon's extradition, and his associate was escorted to his homeland by a whole team of agents from South Korea.

To all this, it should be added that an investigation was recently requested into the entry of DO Kwon from Serbia into Montenegro, given that he did not do so legally. Some influential names of Montenegrin politicians who participated in it are even mentioned.

https://www.talkimg.com/images/2024/02/11/v4iO8.png

Thank you for the explanation guys. It seems that it's getting really interesting how things are turning out with all the scamming, masterminds playing with emotions and money to make a quick buck, loads and loads of money. The South Korean authorities probably want him to take responsibility and I think it's very important for them to take action knowing he is a Korean.

When you see how various criminals pass in front of the US judiciary, you are not surprised that Do Kwon obviously wants to avoid being extradited to South Korea at all costs. I heard a long time ago about the case of the company Centra, which was run by the notorious criminal Raymond Trapani, and now a documentary about him and that company has appeared on N, where a man who literally admits that he wants to be a criminal and that he stole tens of millions of dollars from people all over the world after the trial does not get not a single day in prison because he cooperated with the authorities.

I assume that by delaying the extradition, Do Kwon is probably trying to reach some sort of agreement with the US authorities, and of course, in that agreement, he would receive a minimal sentence with his cooperation.

In my assumption, the U.S tends to not handle financial crime cases the way it is handled in some Asian countries. For the United States they look for the best possible scenario, so being able to get Intel on many others involved in the crime or similar ones at the expense of a lighter sentence for the convicted criminal is an easy deal.

Some other countries see the prosecutions as a deterrent to others and want to make a public show of the punishments, which should be as stringent as possible.

Upon researching the documentary, it's entitled "Bitconned". It's now on my watchlist. It seems like an interesting documentary for Bitcoin and also educational purposes.

It can be similar to that situation but is there any known accomplices with Do Kwon that they may try for a bigger fish to catch or something?

Yes, it's that documentary - and I avoided watching it for a long time because I don't like stories where criminals get away without any punishment. It's really incredible what a man did without getting any punishment for it.


What I do know is that there were a lot of famous people who promoted that project, and the famous Michael Novogratz tattoo was remembered as one of the dumber moves. Also, not so long before everything went downhill, CZ and his CEX were promoting these tokens/stablecoins as a "safe investment", and accordingly it seems to me that Do Kwon has something to offer the US authorities for some sort of settlement.

This is really effed up and people can say that "they got away with it" but that's just how it happens TBH.

This is really getting juicy. More and more people are getting tangled and I now understand why he has to delay it or something to get even a better deal. That claim with the "safe investment" thing is probably nuts to claim and a lot of people believed in it and someone needs to get charged with it. Technically it has been already though, Do Kwon, but who is even bigger? CZ is right but is there something that could stick? We will see now how this goes.

The US budget makes a lot of money by taking away billions of dollars from such scammers. And the procedure for returning money to victims will be very long and many investors will not have enough funds and opportunities to qualify for payments.
But the criminal's agreement with the United States is valid only if he returns all the funds to the government. If the violation is discovered even after serving the sentence, the offender will receive a life sentence or more.
And this does not mean that after the trial in the United States, Korea will not stop hunting for Do Kwon.

I have already mentioned the case of the Centra scam (https://www.bustle.com/entertainment/bitconned-ray-trapani-today-crypto-scam) and the person who was behind everything, so although it is mentioned that about 100 000 ETH were returned (unofficially), the man completely avoided prison for a fraud of tens of millions of dollars only because he cooperated (put the blame on the associates). Immediately after the verdict, he buys a luxury house, drives luxury cars, and no one asks him where he got the money for all that.

Don't be fooled that the laws apply the same to everyone, because it is more than obvious that everything is a matter of agreement, the ability of lawyers and the lobbying of influential people.

Whoever handed everyone over to the police first is the witness :)
I don’t think that this will be a similar case where the fraudster escapes punishment, otherwise the US judicial system will no longer be respected throughout the world. If there are charges from citizens in the United States, Do Kwon will receive a significant prison sentence. I think that negotiations are underway now, and if Do Kwon is not in a hurry to go to the USA, then his prospects are bad.

It looks the dodging game has come to an end and the US has won the extradition battle to have Do Kwon tried in an american court according to news from multiple sources. The battle of who gets to taste the first sip of the wine has been lingering for a while now between the two nations and the high court of Podgorica in Montenegro has finally reached a verdict on Do Kwon's extradition case.

https://cointelegraph.com/news/terraform-do-kwon-extraditon-united-states-montenegrin-court

I would not put an end to this matter. I know that preparation for extradition can last 6 months minimum, and sometimes it takes more than a year. And during this time we will hear a lot more news or Do Kwon’s lawyers will come up with ways to delay this process.

You're not wrong, even the extradition date was not disclosed in the news and the process may take longer than expected. Who knows, Do Kwon's lawyer like you said may still have some tricks up his sleeve to halt the extradition process.

On a personal perspective, I'd like to have him tried in the United States because I believe in his home country he'd easily influence the judicial process than in the United States, but I may be wrong.

The High Court in Podgorica made a decision to extradite Do Kwon to the US, but the problem is that there is currently a political dispute over who is responsible for this extradition - the authorities cannot agree whether the High Court or the Minister of Justice. In addition to all this, his lawyers claim that the decision is illegal and announce a lawsuit - and that speaks for itself - a country where the decisions of the High Court are not respected can hardly be called a country where there is a rule of law.

Under Korean law, Do Kwon will receive life imprisonment. In Korea, the laws for such fraud are more severe.

hahaha. I can't comment on this without laughing.
I wrote that Do Kwon has more money than the country’s annual budget, and the authorities, under any pretext, will make sure that Do Kwon stays in Montenegro as much as possible.
If he had stolen a million, he would have been deported to the USA long ago.

He wants to go to South Korea not the US, his lawyer is actually trying pretty hard to make that happen
https://blockworks.co/news/do-kwon-extradition-troubles


There is nothing surprising about this, SK and the USA have a treaty in place, and according to the double jeopardy clauses he will not be chaged in another country if one has already sentenced him for the crime, so he is seeking to go to South Korea because the initial charges were carrying less of a punishment, he is facing 5 years in prison in SK for breaching of capital markets law and up to lifetime for fraud, but in the US he faces two charges (out of 8 counts) for wire fraud, each of them could land him in prison for 40 years while commodities fraud alone can get him another 25, so of course he's betting on not the maximum in SK, gambling on not being convicted on a law that was enacted after his crime happened and being judged on previous terms so no life term.

This is of course very ridiculous, but it seems to me that the issue here is not about justice, but about the hunt for Do Kwon’s money. A lenient sentence in both countries will only be given if he returns all the money to the budget of the country where the trial will take place.
And Montenegro is in no hurry to give the “golden antelope” to other countries

The legal circus continues, the high court has now made a decision according to which Do Kwon should still be extradited to South Korea after serving his sentence for possession of forged documents. It is not known whether his lawyers will appeal the decision again, but it is known that the US, which is still seeking his extradition, will appeal the decision.

From a legal point of view, the US should have priority in this particular case under Montenegrin law, because the US submitted the request for extradition 1 day before South Korea did.

ha-ha-ha :)
https://www.theblock.co/post/284071/montenegro-prosecutor-contests-do-kwon-extradition?
Montenegro’s top prosecutor contests Do Kwon’s South Korea extradition
"Montenegro’s Supreme State Prosecutor’s Office said the court’s decision to extradite Do Kwon to South Korea overstepped its authority.
Kwon, behind Terra-Luna’s $40 billion collapse of 2022, was arrested in Montenegro last year."

___
Well, you understand that until Do Kwon’s money runs out, politicians can play this game for a very long time. ;D

Founder of UST. Not USDT.

Almost 1 year of his arrest. I want this man to rot in hell. Lost my life savings in UST. >:(

Not even close:

Two days ago:
Montenegro Court Confirms Crypto Mogul’s Extradition to South Korea

Then one day ago:
https://cointelegraph.com/news/do-kwon-extradition-montenegro-supreme-court

If someone has run out of popcorn, go refill cause this ain't over!
And this is just the extradition, wait till the trial begins, then all the delays, then the sentencing, I would say it's better to buy the popcorn by the 100-kilo bag as I don't see this ending this year without a miracle!

I'm telling you that in that country (as well as in most Balkan countries) everyone and everything has its price, and Montenegrin (Serbian) politicians are not the brightest when it comes to making enemies. I already wrote that according to Montenegrin law, the US has priority in extradition because they were the first to request it, but some people are obviously too stubborn to understand that. Let them just play smart, but when the US sends them a secret agent Jason Bourne, then they will see who they are kidding ;D

In the meantime, a little recreation in the Parliament of Montenegro (https://www.youtube.com/watch?v=kxbYZ_LP_JU) - maybe it's about Do Kwon ::)

Most likely, the issue of Do Kwon's extradition will be decided by the Constitutional Court. In my country, this is a very long undertaking, and since the Constitutional Court is very busy, cases can last for years, and if desired, this process can be extended. Stocking up on tons of popcorn :)

Breaking News
https://fortune.com/2024/03/23/crypto-fugitive-do-kwon-montenegro-jail-terrausd-terraform-lab/

"South Korean crypto fugitive Do Kwon was released from prison in Montenegro early Saturday as the Supreme Court deliberates on extradition requests from US and South Korea.

“We released Do Kwon from prison as his regular prison term for traveling with fake papers ended,” prison director Darko Vukcevic said by phone. “Since he is a foreign citizen and his documents were withheld, he was taken for an interview to police directorate for foreigners, and they will deal with him further.” "

Will Do Kwon run away from Montenegro?

Montenegro’s top court orders (https://apnews.com/article/montenegro-kwon-extradition-court-dead597a90af5b598dc2ae732ccbc13b) another review in the case of cryptocurrency mogul Do Kwon

PODGORICA, Montenegro (AP) — Montenegro’s top court said Friday it has overturned a decision to hand over a South Korean mogul known as “the cryptocurrency king” to his native country.

The move marks yet another twist in a months-long legal saga in the case of Do Kwon, the Terraform Labs founder arrested in Montenegro last year.

Both South Korea and the U.S. had requested Do Kwon’s extradition from Montenegro.

Montenegrin courts first had ruled in favor of the U.S. but the ruling was later overturned in favor of South Korea’s request. The Supreme Court said Friday that a lower court should repeat the procedure again and that the final decision lies with Montenegro’s justice minister.

Kwon was charged in the U.S. with fraud by federal prosecutors in New York over a $40 billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world.