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South Korea Crypto Entrepreneur Do Kwon has been released from a Montenegro prison while the verdict regarding his extradition to the United States is still pending, according to recent reports. Kwon, the co-founder of the Terraform Labs blockchain startup, was arrested in January 2023 over allegations by the U.S. of securities law violations.
He was reported to have been in Montenegro before his arrest was carried out and has since been detained there. Kwon’s release does not mean the charges against him have been dropped, but that his case is still under review and he will remain on conditional release until a final decision is made.
The charges from the U.S. involve claims that Kwon and his company carried out the largest-ever unregistered securities offering in the form of a digital token sale, violating U.S. securities law.
Please note that this is an emerging story and further developments should be expected. As such, this information is subject to change.
