Montenegro court sentences founder of cryptocurrency firm Terraform Labs to 4 months in prison

KIFI

Published June 19, 2023 7:29 AM

By PREDRAG MILIC
Associated Press

PODGORICA, Montenegro (AP) — A court in Montenegro has sentenced the founder of cryptocurrency firm Terraform Labs, Do Kwon, and another citizen of South Korea to four months in prison for using forged documents. Kwon was arrested in Montenegro in March on an international arrest warrant in connection with the $40 billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world. Both South Korea and the United States have requested his extradition from Montenegro. The courts in the country are yet to decide on those requests in separate proceedings from Monday’s rulings.

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