Share this article
Do Kwon Charged, Due in Montenegro Court for Extradition Hearing: AFP
Terraform Labs founder Kwon was arrested in Montenegro on Thursday for document forgery.
Updated Mar 24, 2023, 3:07 p.m. Published Mar 24, 2023, 2:32 p.m.
Terraform Labs founder Do Kwon has been charged with forgery in Montenegro and is due in court later Friday for extradition proceedings, according to a report by AFP.
The South Korean national has been on the run following the collapse of stablecoin terraUSD, which sent shockwaves through the crypto markets last year.
STORY CONTINUES BELOW
"A criminal complaint was filed against both persons for the criminal offence of document forgery," AFP cites Montenegro's police as saying Friday, a day after Kwon and a second person were arrested at Podgorica airport.
A court official said Kwon would appear in a Podgorica court later Friday, but it is unclear which country has issued the extradition request. Federal prosecutors in New York charged Kwon with fraud on Thursday hours after his arrest.
Read more: Do Kwon Now Faces Criminal Fraud Charges From U.S. Prosecutors
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto bank Custodia files petition for a rehearing by all appellate judges
The Wyoming-based cryptocurrency bank argued that the three-judge panel undermined state banking authorities, raising “serious constitutional questions”
What to know:
- Custodia Bank has filed a petition for a rehearing en banc with the Tenth Circuit Court of Appeals in its legal battle against the Federal Reserve.
- The bank argues that the Fed's denial of a master account undermines state banking authority and raises constitutional concerns.
- The October ruling against Custodia is a significant setback in its efforts to gain access to the U.S. payments system.
Top Stories
