Montenegro Court Releases Do Kwon

South Korean crypto fugitive Do Kwon has been freed from imprisonment in Montenegro while the Supreme Court considers requests for his extradition from the United States and South Korea.

As reported by Bloomberg, Kwon was released on Saturday, March 23. The Supreme Court put a hold on his extradition to South Korea, postponing a lower court’s ruling.

Kwon is currently facing fraud charges in both the US and South Korea related to the collapse of Terraform Labs, which caused a loss of approximately $60 billion in market value in 2022.

Darko Vukcevic, prison director, stated that Kwon was released after serving his regular prison term for traveling with falsified documents. As a foreign citizen, Kwon’s documents were confiscated and he was questioned by the police directorate for foreigners.

The decision to release Kwon was made by the Council of the Supreme Court, which is reviewing a ruling that will determine whether he will be extradited to his home country of South Korea or not.