Do Kwon, the founder of Terraform Labs, has been charged with forgery in Montenegro, according to a report by AFP. Kwon is due in court on Friday for extradition proceedings, after being arrested at Podgorica airport along with another individual.
The charges come in the aftermath of the collapse of stablecoin terraUSD, which caused widespread concern in the crypto markets last year. Kwon has been on the run ever since, and his arrest in Montenegro marks a significant development in the ongoing investigation into the incident.
According to Montenegro’s police, a criminal complaint has been filed against Kwon and the other individual for the criminal offense of document forgery. It is unclear which country has issued the extradition request, but Kwon is due to appear in court later on Friday in Podgorica.
In addition to the charges in Montenegro, Kwon has also been charged with fraud by federal prosecutors in New York, just hours after his arrest. The charges highlight the risks associated with cryptocurrency investments and serve as a reminder of the importance of due diligence when considering any kind of crypto-related venture.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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