Overview

• Founder of cryptocurrency firm Terraform Labs, Do Kwon, and another South Korean citizen sentenced to four months in prison in Montenegro for using forged documents.
• Kwon was arrested in Montenegro in March on an international arrest warrant in connection with the $40 billion crash of Terraform Labs’ cryptocurrency.
• South Korea and the United States have requested his extradition from Montenegro, but the courts are yet to decide on those requests in separate proceedings.
• Kwon and the other man were arrested at Podgorica Airport while trying to fly to Dubai using fake Costa Rican passports.
• Kwon and five others connected to Terraform are wanted on allegations of fraud and financial crimes in relation to the implosion of the firm’s digital currencies in May 2022.