Terraform Labs CEO Kwon Do-hyung, blamed for the downfall of virtual currencies Terra and Luna, made an appearance in court in Montenegro. The Montenegrin court extended the detention period for up to 30 days as Kwon was deemed a flight risk. Local trials for alleged counterfeit passport usage will precede extradition proceedings requested by both Korea and the United States. Kwon, dressed in a gray tracksuit and handcuffed, made an appearance alongside an aide in black. The Podgorica court extended Kwon’s detention period due to concerns surrounding his nationality and identity. Legal proceedings in Montenegro will take precedence over cases in Korea or the United States, with a hearing related to the extradition request to follow Kwon’s trial in Montenegro. Reporting from Paris, this is Cho Myeong-a from MBC News. Video coverage by Lee Yu-kyung with editing by Song Ji-won.
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Terraform Labs CEO Kwon Do-hyung, the main culprit behind the collapse of the virtual currency Terra and Luna, appeared in court in Montenegro.
The Montenegrin court extended the detention period from 72 hours to a maximum of 30 days, saying that Kwon was at risk of fleeing.
Hearings related to the extradition requested by both Korea and the United States have been decided to proceed following the local trial on charges of using counterfeit passports.
Correspondent Jo Myung-ah reports from Paris.
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A man wearing a gray tracksuit and a black cap was handcuffed behind his back as he entered the courtroom.
Kwon Do-hyeong, CEO of Terraform Labs, the main culprit in the collapse of the virtual currency Terra Luna, appeared for a hearing at the Podgorica court in the capital of Montenegro.
One of the aides of CEO Kwon, dressed in black, also attended the court with his head bowed.
Prosecutors in Montenegro handed over Kwon, who was previously arrested for trying to board a plane with a forged passport, on trial for forgery of official documents, and applied for an extension of the detention period ahead of the expiration of the 72-hour detention period.
After the hearing, the Podgorica court extended the detention period of Kwon and his aide to up to 30 days.
Local media in Montenegro reported that the court made the decision, saying, “Mr. Kwon is a foreigner residing in Singapore, at risk of fleeing, and his identity is not clear.”
Representative Kwon’s lawyer filed an application for avoidance of the judge, saying, “I did not provide a Korean interpreter,” but the court reportedly rejected it, saying that it respected the legal rights of Kwon, who might understand English, by providing an English interpreter.
As the Montenegrin authorities directly proceed with the judicial process of Kwon, Kwon is expected to stand before the Montenegrin court first, rather than Korea or the United States.
Foreign media observed that following Kwon’s trial on the charge of forgery of public documents in the country, he will receive a hearing related to the extradition request.
This is Cho Myeong-a from MBC News in Paris.
Video coverage: Lee Yu-kyung (Paris) / Video editing: Song Ji-won
As Terra CEO Kwon Do-hyung appears in court in Montenegro, the extension of his detention period highlights the severity of the charges once morest him. With both Korea and the United States requesting extradition, Kwon is expected to face further hearings following his trial on charges of using counterfeit passports. The proceedings in Montenegro will be closely watched as representatives from both sides will be present during the hearings. As this case continues to develop, we will keep you updated on any new developments.
