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Do Kwon: the co-founder of the crypto Terra is out of jail in Montenegro

Do Kwon, the co-founder of the crypto project Terra, was released on Saturday, March 23 from prison in Montenegro, where he had been detained for a year. Now, he should be taken care of by the foreign police department.

Do Kwon: the co-founder of the crypto Terra released from prison in Montenegro

According to what reported, it seems that the detainee Do Kwon, co-founder of the crypto project Terra, was released from prison in Montenegro on March 23, 2023. Now that his regular detention has ended, Do Kwon will take care of the direction of the police for foreigners.

Basically, the decision to release Know would have been made by the Supreme Court Council of Montenegro, at a time when his extradition to his native country, South Korea, is also being decided. 

Do Know was arrested in March 2023 in Montenegro, just for using fake travel documents together with his colleague, former Terraform Labs CFO Han Chang-joon.

Apparently, Do Know would have served his entire sentence in Montenegro and would now be in the hands of foreign police. Here are the words of the prison director, Darko Vukcevic:

“We have released Do Kwon from prison because his regular detention for traveling with false documents has ended. Since he is a foreign citizen and his documents have been withheld, he was taken for an interview at the foreign police department, which will take care of him.”

Do Kwon: the co-founder of the crypto project Terra and the awaited verdict on his extradition to South Korea

According to the State TV, at first, Kwon’s passport was withheld to prevent him from leaving the country. 

Immediately after his release, Kwon would have been transferred to the foreign reception center, while his lawyer Goran Rodic expressed his intention to appeal to the court to leave Know free until the extradition sentence.

Basically, the co-founder of Terra is awaiting a new verdict on his extradition to his native country of South Korea. 

Just in these days, it seems that this sentence has been blocked and directly contested by the Supreme Prosecutor of Montenegro.

Specifically, the Office of the Supreme Prosecutor of Montenegro states that the decision of the High Court to extradite Kwon to South Korea, instead of the USA, was made through “abbreviated procedures”, which exceed the limits of its powers.

Extradition to the USA revoked for the third time

Always in this month of March, but at the beginning, Do Kwon had managed to have the decision of extradition to the USA revoked for the third time.

This is a third victory for Kwon, as prosecutors in the USA are trying to prosecute him for the $40 billion collapse of the algorithmic stablecoin TerraUSD in 2022.

As motivation for the decision to revoke the extradition to the USA, the Court of Appeal of Montenegro would have spoken of “problems in the process” and “lack of clarity”. 

This third victory of Do Know, adds to the other two that occurred on February 14th and December 8th. 

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.