Prosecutors purportedly plan to confiscate the Terraform Labs co-founder’s South Korean passport, though he allegedly used a forged Costa Rican passport in Montenegro in 2023.
Authorities in Montenegro will reportedly release Terraform Labs co-founder Do Kwon as local courts decide on his fate over extradition to the United States or South Korea.
According to a March 22 report from Montenegrin news outlet Vijesti, Kwon will be allowed to leave prison on March 23 after being held in custody for roughly a year but forced to surrender his travel documents to prevent him from leaving the country. The decision to release Kwon reportedly came from the Council of the Supreme Court, which is set to review a decision that could grant or deny extradition to his native South Korea.
Kwon was arrested in Montenegro in March 2023 for using falsified travel documents with his colleague, Terraform Labs’ former chief financial officer Han Chang-joon. Authorities from the U.S. and South Korea filed competing extradition requests to have Kwon face fraud charges in their respective countries, but no final decision has been made.
