Cointime

Download App
iOS & Android

Montenegro Court Rejects Do Kwon’s Appeal; Terra’s Daniel Shin Arrest Reviewed

A Montenegro court has rejected an appeal by Terra co-founder Do Kwon against extending his detention period to 30 days. Lawyers representing Kwon and CFO Han Chang-joon filed the appeal after the court's decision to extend their detention period. Kwon is facing charges of passport forgery and extradition requests from South Korea and the US. Montenegro's Minister of Justice said the extradition decision will be taken in a separate court proceeding after the passport forgery case, and extradition depends on several factors, including the severity of crimes, location of committed offenses, sequence of requests, and nationality. Meanwhile, South Korea's Seoul Southern District Court is reviewing an arrest warrant for Terra co-founder Daniel Shin.

(By Varinder Singh)

Comments

All Comments

Recommended for you

  • Bybit Receives In-Principle Approval to Establish Virtual Asset Platform in the United Arab Emirates

    Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced that it has received In-Principle Approval (IPA) from the Securities & Commodities Authority (SCA) of the United Arab Emirates (UAE) to operate as a Virtual Asset Platform Operator in the UAE. The approval, dated February 18, 2025, signifies a significant milestone in Bybit's efforts to provide a secure and compliant platform for crypto traders in the region. Bybit is now in the final stages of obtaining its fully operational license, demonstrating its commitment to meeting regulatory and compliance standards. This authorization brings Bybit closer to offering a wide range of digital asset services to retail and institutional clients in the UAE, aligning with its goal of fostering a compliant and innovative digital asset ecosystem. Bybit's progress in the UAE complements its existing regulatory approvals in the Middle East and reflects its dedication to compliance in key financial hubs worldwide.
  • Trump: Plans to impose 25% tariffs on Canadian and Mexican goods starting February 1

    On January 30th local time, US President Trump stated that he plans to fulfill his promise of imposing a 25% tariff on imported goods from Mexico and Canada on February 1st, and will decide whether to include oil in the list of goods subject to tariffs on the evening of January 30th. On January 20th, when signing a series of executive orders in the Oval Office of the White House, Trump told the media that he is considering imposing a 25% tariff on Mexico and Canada, and the tax may be implemented from February 1st this year. (CCTV News)
  • Arresters of South Korean President Yoon Seok-yeol clash with guards

    after attempting to arrest President Yoon Suk-yeol, Korean senior government officials from the Crime Investigation Department (CID) had a confrontation and physical conflict with security personnel inside the presidential residence today (January 3). The arresting officers have already passed through the main gate of the residence, but have not yet entered the building where Yoon Suk-yeol is located. 
  • Cointime August 11st News Express

    1.Fed Governor Bowman: Be cautious about rate cuts
  • Cointime August 4 News Express

    1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
  • Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

    According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.
  • Cryptocurrency firm Terraform Labs and its founder Do Kwon committed fraud

    The US Securities and Exchange Commission (SEC) ruled that the actions of cryptocurrency company Terraform Labs and its founder Do Kwon constitute fraud. The company's bankruptcy in 2022 resulted in a loss of $40 billion in investor funds.
  • Do Kwon will go on trial in Manhattan on Monday

    Terraform Labs and its founder Do Kwon will face trial in Manhattan on Monday, accused by regulators of lying to investors about the collapse of the company's two cryptocurrencies, LUNA and UST, which disrupted the market in 2022. Regulators also accuse them of falsely claiming that Terraform's blockchain was used for a popular mobile payment app in Korea. Do Kwon will not attend the trial. He was arrested in Montenegro last March and is awaiting extradition back to his home country of South Korea, where he faces criminal charges. A court in Montenegro postponed his extradition on Friday, citing concerns from the country's prosecutor's office about the extradition process.
  • Do Kwon will be released from Montenegro prison but will not be allowed to leave the country

    Do Kwon, co-founder of Terraform, will be released from prison in Montenegro, but due to several criminal charges brought by national authorities, he will remain in the Balkans. The High Court of Montenegro ordered the confiscation of Kwon's passport on Friday to prevent him from leaving the country. According to the court's order, Kwon will leave Spuž prison on Saturday. The prosecutor opposes extraditing Kwon to South Korea and would prefer him to be sent to the United States, where he could face a longer sentence if convicted.
  • Terra co-founder Do Kwon released, awaiting Supreme Court extradition decision

    Market news: Terra co-founder Do Kwon has been released and is awaiting the extradition decision of the Supreme Court.