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Kwon reportedly indicted by Montenegro authorities on these grounds

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Prosecutors in Montenegro have asked the court to extend the detention of Do Kwon and his associate. The Montenegro authorities reportedly indicted Kwon for forging travel documents while trying to leave the country.

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  • Montenegro authorities have indicted Do Kwon weeks after Do Kwon was arrested for forging travel documents
  • Local prosecutors have requested the court to extend the detention of the Terraform Labs co-founder and his associate.  

Terraform Labs co-founder Do Kwon has reportedly been indicted in Montenegro for forging his documents. Kwon was arrested with an associate in the country last month. This happened while he was attempting to board a flight to Dubai using forged travel documents.  

Prosecutors seek extended detention for Do Kwon

According to a report by Block Media, prosecutors in Montenegro indicted Do Kwon and fellow Terraform Labs executive Han Chang-jun for forging legal documents. In a filing submitted to the Podgorica Court, local prosecutors sought extended detention for Kwon and his associate. At the time of writing, both Terra executives were lodged in a Montenegrin jail. 

Meanwhile, fellow Terraform Labs executive Daniel Shin still remains free in South Korea. Shin was ordered to appear in a Seoul District Court last month. Here he was questioned about his role in the fall of his firm in 2022.

The Terra co-founder has also been named in another case. The case surrounded the promotion of TMON as a secure payment service ahead of Terra’s crash. 

Do Kwon’s arrest came after several months of a chase that saw law enforcement agencies of multiple nations, as well as Interpol, search for the crypto fugitive. The United States and Korea also plan to prosecute him for his role in the collapse of Terra. Thus, they are actively trying to extradite Kwon.

However, Montenegro authorities stated that before being extradited, Kwon will be prosecuted for his crimes in Montenegro. 


Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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