• A prosecutor in Montenegro is investigating Terraform Labs CEO Do Kwon for alleged passport forgery.
• The law enforcement official has indicated that Kwon will not be extradited soon, as judicial condemnation of crimes within Montenegro’s jurisdiction is a priority.
• South Korea, the United States, and Singapore are all trying to secure his extradition.

Do Kwon’s Extradition Likely to Take Time

A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed over to other countries within the detention period.

Passport Forgery Investigation Takes Precedence Over Extradition Requests

It may take some time before an extradition process begins for Do Kwon, the South Korean Yonhap news agency reported, quoting the prosecutor working on the case of the Terraform Labs co-founder who was recently arrested in Montenegro. Judicial condemnation of crimes that have taken place in Montenegro’s jurisdiction is a priority for the authorities in the small Balkan nation, Haris Šabotić stated in an interview in the Montenegrin capital Podgorica on Monday.
Šabotić is in charge of the local investigation against Kwon for alleged forging of documents. The chief executive of the company behind the failed stablecoin terrausd and cryptocurrency luna was detained on March 23 while trying to board a flight to Dubai using a fake Costa Rican passport.

Do Hyung Disappeared After Departing Singapore

Kwon Do-Hyung, as is his full name in Korean, disappeared after departing for Singapore in April 2022, right before the collapse of two coins ust and terra. He then fled to Serbia where he reportedly registered a new firm before eventually ending up in neighboring Montenegro.

Montenegrin Authorities Aim To Indict Kwon Within 30 Days

The prosecutor noted that allegations of counterfeiting are subject to an ongoing investigation rejecting earlier media reports that Kwon has already been indicted following 72-hour initial detention a court extended measure to 30 days with goal indicting him within that period Haris Šabotić further noted “we don’t know how situation develop after indictment but what clear no possibility detainee handed over 30 days” he added

South Korea US & Singapore Seeking Extradition Of Do Hyung

South Korea United States and Singapore are all trying secure extradition Do Hyung though Šabotić declined discuss matter detail not up prosecution decide requests he emphasized fake passport case investigation prioritized noting we move next step only after prosecution case over

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