Share this article
Do Kwon's Appeal in Fake Passport Case Denied by Montenegro High Court
The founder of Terraform Labs was sentenced to four months in prison, and faces extradition following the completion of his sentence.
Updated Nov 16, 2023, 10:40 a.m. Published Nov 16, 2023, 10:40 a.m.
A Montenegro High Court has denied Terra founder Do Kwon's appeal of a four-month prison sentence over charges of falsifying documents, according to a Thursday statement.
The High Court "rejected as unfounded the appeals of" a lower court judgment, which sentenced Korean citizens Kwon and fellow Terra executive Han Chang-Joon back in June.
STORY CONTINUES BELOW
The founder of the crypto enterprise was arrested along with his associate in Montenegro in March nearly a year after the dramatic collapse of his crypto empire Terraform Labs. The two have remained in custody since their arrest, and Kwon faces extradition to South Korea or the U.S. once his sentence in the Balkan nation is complete.
The four-month prison sentence is "adequate" punishment for the crime committed, a statement from the Basic Court of Montenegro capital Podgorica said.
"The imposed security measure of confiscation of the objects of the commission of the criminal offense - passports and identity cards - was necessary in order to arrest the perpetrators. prevented them from committing criminal acts in the future," it added.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
ECB gains backing from Council of EU for caps on digital euro holdings
Concerned that a CBDC will drain funds from traditional banks, regulators are considering caps on how much digital euro citizens can hold to ensure it's purely for payments.
What to know:
- The Council of the European Union supports the European Central Bank's plan for a digital euro, viewing it as an evolution of money and a tool for financial inclusion.
- Limits on digital euro holdings are proposed to prevent the central bank digital currency from competing with bank deposits and to avoid financial instability.
- Critics argue that these limits protect banks from competition and may restrict the digital euro's potential usefulness.
Top Stories
