Terraform Labs Co-Founder Do Kwon, who has been imprisoned in Montenegro since March, appears set to remain there until February. According to the latest reports from Bloomberg, both the United States and South Korean governments have requested an extension of Kwon’s detention in Montenegro by another two months.
Last month, Montenegro’s court approved the extradition of Do Kwon. If extradited to the United States, Kwon is expected to face eight different charges related to his role at Terraform Labs. These charges include commodity fraud, securities fraud, wire fraud, conspiracy to commit fraud, and market manipulation.
Kwon, who is also accused of investor fraud by the SEC, is seen as one of the primary triggers of the general downturn in the cryptocurrency market following the collapse of Terra.
There is speculation that Kwon will likely be extradited to the United States, but there has been no definitive statement on this matter yet.