Do Kwon Will Remain Detained in Montenegro

Terraform Labs co-founder Do Kwon’s detention in Montenegro has been extended at the request of the US and South Korea.

According to sources, Justice Minister Andrej Milovic said his department is obligated to extradite Kwon to the US as the country has an international extradition agreement with the North American nation.

Sources also said Kwon would likely face charges in the US related to fraud and money laundering as part of the investigation into the downfall of the TerraUSD stablecoin.

Montenegro has extended the detention of Do Kwon, co-founder of Terraform Labs, at the request of the US and South Korea, as reported by Bloomberg.

The detention was originally set to end on Friday, but has been extended until Feb. 15. The request was made in response to the collapse of TerraUSD, a stablecoin co-founded by Kwon.

The US and South Korea plan to prosecute him on charges related to the incident, according to a court spokeswoman.