• Montenegrin authorities have charged Do Kwon with multiple document forgeries, further complicating his extradition to the US and South Korea.
• Police found a Trezor hardware wallet inside Do Kwon’s apartment, leading to an extension of his detention in Podgorica prison.
• Terra (LUNA) blockchain continues to plummet, and the stablecoin UST is trading at just 2 cents on the dollar.
Do Kwon Charged With Document Forgery
Montenegrin authorities have charged Do Kwon with multiple document forgeries, further complicating his extradition request by the United States and South Korea. Earlier this month, he and business partner Hong Chang-jun were detained in Podgorica Airport as they attempted to board a private jet to Dubai. As a result of these charges, his current detention has been extended in the notorious Montenegro prison system.
Trezor Found In Do Kwon’s Apartment
Local police found a Trezor hardware wallet inside Do Kwon’s apartment upon seizure, which was thought to be where he had been holed up for six months prior. The court representative Maja Kosovid told press that the requested extension would likely add at least a month of detention in a tiny chamber that hosts at least ten prisoners.
Terra Blockchain Plummets & UST Trading At 2 Cents On The Dollar
The Terra (LUNA) blockchain has continued to plunge by 10% in the last seven days; its algorithmic stablecoin UST is still trading at just 2 cents on the dollar. Further investigation into Do Kwon reveals that shortly before Terra crashed, he wired $7m USD to Kim & Chang – a large law firm infamous for successfully defending high-profile criminals and corporations involved in financial frauds – suggesting perhaps he knew about Terra’s downfall beforehand.
Korean Prosecutors Discover Wiring Of $7 Million To Kim & Chang Law Firm
Korean prosecutors have uncovered evidence that shortly before Terra collapsed, Do Kwon wired $7m USD to Kim & Chang law firm in Korea – known for defending high-profile criminals and corporations involved in financial frauds. This suggests that he may have known about Terra’s downfall prior to its crash and sought legal protection from its consequences if necessary.
Human Rights Activists Criticize Montenegro Prison System
Human rights activists have repeatedly called out Montenegro’s prison system over conditions such as overcrowding and poor hygiene standards; however due to recent charges against him it appears likely that despite these circumstances, Do Kwon will be spending more time there than originally anticipated until both the US and South Korean requests for extradition are resolved.