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Do Kwon Faces New Charges in U.S. and Montenegro

Do Kwon, the founder of blockchain firm Terraform Labs, has been charged with eight counts of fraud by the US Department of Justice and arrested in Montenegro. The charges include wire fraud, market manipulation and securities fraud, and the DOJ is pursuing Kwon’s extradition to the US. Kwon was detained in Montenegro’s Podgorica airport while travelling with seemingly fake travel documents. He is also facing charges from Montenegrin authorities of document forgery. Kwon had previously denied he was a fugitive despite an Interpol red notice being issued for him, which effectively made him wanted in 195 countries. It is unclear whether he will be extradited to the US or South Korea. At the time of writing, the author of the article owned several cryptocurrencies, including Bitcoin and Ethereum.

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