Do Kwon, the founder of Terra, a popular blockchain-based payment system, who was arrested in the United States on charges of fraud and embezzlement, may be handed over to South Korea for further investigation and prosecution. Kwon, who has been described as a fugitive, is currently being held in custody in the United States.

The extradition of TerraForm Labs founder Do Kwon from Montenegro has been requested by both the U.S. and South Korea, Justice Minister Marko Kovac said at a Wednesday press conference.

The extradition of TerraForm Labs founder Do Kwon from Montenegro has been requested by both the U.S. and South Korea, Justice Minister Marko Kovac said at a Wednesday press conference.

The extradition of Terra co-founder Do Kwon is likely to be delayed as Montenegro authorities prioritize the passport forgery case, while Kwon's lawyers plan to appeal the case in the Supreme Court. The court procedure for the extradition process has not started yet. Kwon and Terra CFO Han Chang-joon were both arrested while trying to board a plane to Dubai using a Costa Rican passport. The extradition requests by South Korea, the US, and Singapore will be considered in a separate court procedure after a decision in the passport forgery case. Prosecutors in South Korea and Serbia are also investigating whether the crypto business established in Serbia by Kwon and Chang-joon was used for money laundering.

A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed over to other countries within the detention period.

Do Kwon, the founder of Terra, a popular blockchain-based payment system, has expressed surprise at his arrest in South Korea on charges related to alleged fraud and embezzlement. Kwon stated that he had received VIP treatment in other countries where he had traveled and had not expected to be arrested in his home country.

Do Kwon will be held in Montenegro for a month on charges of using forged travel documents, according to local prosecutor Haris Shabotich.

Do Kwon, a co-founder of the failed Terra-Luna cryptocurrency project, will be held in Montenegro for a month on charges of using forged travel documents, according to local prosecutor Haris Shabotich. Kwon is wanted on international fraud charges related to the collapse of the Terra-Luna project and faces extradition to both South Korea and the US. He was arrested last week along with Terraform Labs' CFO Han Chang-joon at Podgorica airport in Montenegro, where they were reportedly planning to board a plane to Dubai using allegedly fake Costa Rican passports. Kwon and Han deny using fake passports and insist their travel documents are valid. (forkast)

A group of Serbian lawyers has been exposed for allegedly helping Do Kwon, the founder of Terraform Labs, set up a new company in Serbia after he was placed on an Interpol Red Notice. The lawyers are accused of violating Serbian law by assisting Kwon, who was wanted by South Korean authorities on charges of embezzlement.

Terraform Labs CEO Do Kwon, who fled South Korea prior to the collapse of Terra ecosystem coins last year, has been arrested in Montenegro and detained for up to a month. Kwon is wanted on fraud and securities law violations in both the US and South Korea, and Singaporean courts also want to question him. Kwon's legal team has complained that his rights are being violated, and Kwon reportedly wants to face interrogation in his native language. Kwon and the Chai Corporation CEO Han Chang-joon were reportedly found with forged travel documents at Podgorica International Airport. Legal experts warn that it could be "years" before Kwon's case is heard if he is extradited to face charges in South Korea. Some South Korea-based victim groups have called for Kwon to be tried in the US.