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Do Kwon Requests Trial Delay

Do Kwon Requests Trial Delay:

Do Kwon is seeking a delay of his trial in the United States, scheduled for January 29th, due to extradition difficulties from Montenegro.

  • In February 2023, the SEC accused Kwon of being involved in a multi-billion dollar cryptocurrency fraud.
  • Kwon, arrested in Montenegro in March 2023, faces extradition requests from the United States and South Korea.

The Co-founder of Terraform Labs

Do Kwon, the co-founder of Terraform Labs, who is currently facing serious fraud charges by the SEC, has requested to postpone his trial scheduled for the end of January.

The reason cited is that his current detention in Montenegro prevents him from attending his trial in the United States. This request comes as Kwon is currently being held in Montenegro awaiting extradition.

His legal team has emphasized his desire to personally attend the trial, but the extradition proceedings are taking longer than expected. While Do Kwon’s legal team acknowledges that the trial cannot be indefinitely postponed, they believe that a delay until mid-March would be a reasonable compromise, providing a realistic chance for his presence in court.

“Mr. Kwon wishes to attend his trial. The attorneys had hoped that the extradition process in Montenegro would proceed more quickly than it has.”

Do Kwon’s defense stated

A Look Back at Do Kwon’s Case

The charges against Kwon are related to the collapse of the stablecoin TerraUSD and Terra (LUNA), resulting in massive financial losses for investors.

In December 2023, the Montenegrin Court of Appeals overturned the extradition decision, further complicating the situation. Both American and South Korean authorities are seeking his extradition, which could lead to penalties in both countries.

Kwon’s arrest in Montenegro for using forged travel documents adds complexity to an already legally and financially charged case.

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