Montenegro Extends Do Kwon Detention on US, South Korea Requests

Montenegro’s High Court extended the detention of Terraform Labs co-founder Do Kwon, at the request of the US and South Korea, court spokeswoman Marija Rakovic told Bloomberg.

The court in Podgorica ruled that the term in custody, which would have expired on Friday, be prolonged by two months to Feb. 15, Rakovic said. Both the US and South Korea are seeking the crypto entrepreneur on charges related to the 2022 implosion of TerraUSD, an algorithmic stablecoin.

The High Court ruled last month that Do Kwon may be extradited, leaving it to Montenegro’s justice minister to decide to which country. ...