Do Kwon, the co-founder of Terraform Labs, will remain in custody in Montenegro until February 2024, as reported by Bloomberg. The United States and South Korea have requested his detention extension due to their intention to charge him in connection with the collapse of Terra and Luna cryptocurrencies, which resulted in significant losses for the crypto market. Kwon's detention was initially set to end in January but has now been extended until mid-February. The final decision regarding Kwon's extradition lies with Montenegrin justice minister Andrej Milovic, who has not yet made a public statement on the matter. Kwon's lawyer and Milovic have not confirmed the extradition decision, but they have not ruled out the possibility. Kwon's case has been the subject of an international manhunt, and he was apprehended in March 2023 while trying to leave Montenegro using forged passports. His attempt to appeal his document forgery case in Montenegro was rejected, and he is currently held in Spuž Prison. Kwon's lawyer is working on appealing the extradition decision, and Milovic is expected to announce the extradition location after the appeal is resolved.
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