- Montenegro’s Justice Minister set a deadline for Kwon’s extradition.
- Do-kwon left behind electronic devices and a key to access his wallet.
- It is known that the Prime Minister of the Balkan Peninsula has a relationship with Rep. Kwon.
Montenegrin Justice Minister Bojan Božović told a local newspaper that Montenegrin authorities had reached a mutual agreement regarding Kwon Do-kwon’s extradition. The destination has not yet been revealed, leaving market watchers and lawmakers speculating between South Korea and the United States (USA).
Will Mr. Kwon’s fate be decided soon?
The wait is coming to an end as the decision to extradite Montenegro goes back and forth between the Supreme Court of Podgorica and the Court of Appeal. According to local newspaper Bizesti, the Minister of Justice plans to make Do-Kwon’s extradition decision public by the evening of Sunday, October 20, 2024. However, according to a recent report by Balkan Insight, the decision has been postponed again.
In March last year, Do-kwon Kwon and CFO Han Chang-jun of his affiliate TerraForm Labs were caught trying to board a private plane to Dubai, UAE, with fake passports. Since then, Dokwon has spent four months in a Podgorica prison, but some sharp details about his living conditions have revealed the cryptocurrency entrepreneur’s access to cryptocurrencies.
Dokwon Terra exchanges Bitcoin in prison
Kwon Do-kwon received a red notice in September 2022, and a nine-month chase continued throughout Europe, including overseas territories such as Croatia, Serbia, and Costa Rica. The criminal charges relate to the disastrous failure of Terra Luna in 2022, which saw LUNA and UST tokens shatter in a matter of weeks.
As Kwon Do-kwon completed his four-month sentence in Montenegro, Montenegro’s National Security Service (ANB) announced that his personal belongings, including his laptop, mobile smartphone, and cold wallet, were confiscated 72 days after he checked in. After receiving strict orders from the police commissioner and police department.
One of the largest transactions the corrupt cryptocurrency entrepreneur made during his stay in the Podgorica prison was a $62 million Bitcoin transfer in September, totaling 1,075 BTC. This comes three months after the now-bankrupt TerraForm Labs, the parent company of all Terra Luna tokens, signed a bankruptcy protection agreement with the U.S. Securities and Exchange Commission (SEC) for $4.5 billion in clawbacks and civil penalties.
On the flipside
- Escape to Montenegro calculatedAccording to connections found by local media outlets.
- Prime Minister of Montenegro Milojko Spajić has proven to be one of the early Terra Luna cryptocurrency investors.
Why This Matters
As TerraForm Labs investors seek closure on the ecosystem’s downfall, the fate of this lawsuit could pave the way for more comprehensive cryptocurrency regulation and a safer environment for investors.
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