Do Kwon, co-founder of the disastrous TerraLuna cryptocurrency project, has been released from prison in Montenegro.
Kwon was reportedly released from prison on Saturday by order of the Montenegrin Supreme Court, the country’s top court. This overruled a lower court’s prior decision to send him to South Korea. The Supreme Court will now decide whether to grant Kwon’s extradition request or send him to the US or South Korea.
In March 2023, Kwon was jailed for using fraudulent travel documents. He was hoping to be extradited to the United States or South Korea to face charges for his involvement in Terra’s $60 billion crash last year.
According to the prison director, Kwon was released since his “regular jail term for the fake travel docs ended.” Nevertheless, he is still unable to leave Montenegro because his passport has been withdrawn. He has been housed in a foreigner’s shelter while the extradition process is underway.
Kwon’s counsel confirmed the release and added that they would ask the court to grant him a stay of absence as they await a decision on extradition. In the cryptocurrencycurrency world, this scenario is being closely observed. Even though the sanctions in South Korea may be less harsh, US investigators want Kwon brought there to face multiple serious charges relating to Terra’s unexpected collapse.
Read also: Montenegro Stands Against Do Kwon’s Extradition Appeal
