According to a report by Bloomberg Law citing Montenegrin newspaper Vijesti, prosecutors in Montenegro have submitted an indictment proposal against Do Kwon, co-founder of Terraform Labs. Kwon and Terraform Labs CFO Han Chang-joon were arrested and charged with forgery in Montenegro last month. He currently faces criminal charges in both his native South Korea and the United States, and it is unknown to which country he will be extradited.
The collapse of the Terra ecosystem last summer caused a stir in the cryptocurrency markets, and Kwon has been on the run since then. The news of his arrest and indictment in Montenegro has been a blow to Terraform Labs and has raised concerns in the cryptocurrency community.
