The authorities of Montenegro reportedly consider extending Do Kwon’s custody in the country for another six months before taking an official decision on his possible extradition. The homeland of Terraform Labs’ co-founder – South Korea – and the world’s biggest economy – the United States of America – have both requested his deportation.

The Montenegrin police arrested the 31-year-old developer in March this year after he was supposedly on the run for several months, changing multiple hiding locations. He faces numerous fraud charges and is accused of having a hand in last year’s LUNA/UST collapse. 

Kwon’s Stay in Europe to Be Extended?

Marija Rakovic – adviser for public relations of the High Court of Montenegro – confirmed to a local media outlet that Kwon received a detention order of half a year. During that period, the magistrates will decide whether to extradite the former crypto tycoon to South Korea. 

The authorities of the Asian country have insisted on his deportation, alleging he played a significant role in the Terra crash last year that prompted multi-billion dollar losses and undermined the entire digital asset sector. 

The USA has also requested Kwon’s extradition. The US SEC previously asserted that Terraform Labs and its co-founder had orchestrated a massive crypto scam by offering and selling unregistered securities through the use of digital currencies. 

American prosecutors