• About Us
  • Careers
  • Contact
No Result
View All Result
Thursday, July 3, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

Do Kwon Pleads Not Guilty to Traveling With Fake Documents in Montenegro

11 May 2023
in Latest News, News
Reading Time: 3 mins read
105 4
Do Kwon Pleads Not Guilty to Traveling With Fake Documents in Montenegro

Source: watcher.guru

Do Kwon, the CEO of Terraform Labs, has pleaded not guilty in a Montenegrin court after being arrested for attempting to travel with fake documents on an international warrant, according to a report by Bloomberg. 

During the hearing, Kwon and his former CFO, Han Chang-joon, requested to be released on bail, with each offering €400,000 ($437,240). However, prosecutor Haris Sabotic opposed the proposal, arguing that the defendants possessed sufficient financial resources and had no intention of remaining in Montenegro.

Kwon and Chang-joon were arrested in March 2023 while trying to board a private jet bound for Dubai at Podgorica airport. They were accused of engaging in illegal activities, resulting in international warrants and subsequent detention in Montenegro.

The pair was found in possession of travel documents from South Korea, Belgium, and Costa Rica. According to Bloomberg, Interpol and Montenegro confirmed that the passports from Belgium and Costa Rica were counterfeit. However, the defendants claimed in court that the Costa Rican passports they attempted to use were legitimate documents.

In April 2023, reports emerged that South Korean authorities discovered illegally obtained assets worth 414.5 billion won ($314.2 million) in Kwon’s possession and that of his associates, resulting in warrants for his arrest.

It was determined that Kwon was directly connected to approximately 91.4 billion won ($69 million) of these assets. However, authorities are unable to recover any of these funds. It is believed that Kwon converted most of the stolen funds into Bitcoin (BTC) through foreign cryptocurrency exchanges instead of investing in physical assets.

The legal situation surrounding Kwon’s troubles in multiple countries is complex. Kwon had been on the run for several months following the collapse of his TerraUSD stablecoin, also known as UST, in May 2020. The incident caused approximately $45 billion in losses in the cryptocurrency market and triggered an investigation into potential criminal activities. The repercussions were felt by numerous businesses, leading to closures and bankruptcy filings.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

 

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: DoKwonTerraform Labs
Share64Tweet40Share11
Durotimi Aribisala

Durotimi Aribisala

Durotimi is a writer who is interested in writing about emerging technologies such as blockchain, Web3, crypto, and AI. He studied business administration and management. He desires to be an entrepreneur and movie director sometime in the future.

Related Posts

source: mid-day.com
News

US Senate All-Night Showdown on Trump’s Mega Bill Includes Crypto Tax Push

2 July 2025
source: coinjournal.net
News

U.S. Senator Proposes Tax Relief for Small Crypto Transactions in 2025 Budget Bill to Boost Adoption

2 July 2025
source: bitcoinist.com
Crypto

Malaysia’s Securities Regulator Proposes Faster Crypto Asset Listings, Seeks Industry Feedbac

2 July 2025
source: ratecaptain.com
Crypto

Deutsche Bank Set to Roll Out Crypto Custody Service by 2026

2 July 2025

Featured Posts

Has Web3 Failed to Protect the Core Innovations of Crypto and DeFi?

Has Web3 Failed to Protect the Core Innovations of Crypto and DeFi?

byOlajumoke Oyaleke
15 June 2025
0

Are Green Cryptocurrencies the Future of Blockchain Sustainability?

Are Green Cryptocurrencies the Future of Blockchain Sustainability?

byOlayinka Sodiq
12 June 2025
0

Web3 Gaming’s Scaling Crisis: Why Innovation Alone Isn’t Enough

Web3 Gaming’s Scaling Crisis: Why Innovation Alone Isn’t Enough

byOlayinka Sodiq
10 June 2025
0

What Is Price Slippage in Crypto & How Can You Avoid It

What Is Price Slippage in Crypto & How Can You Avoid It

byOlayinka Sodiq
4 June 2025
0

The Rise of Decentralized Identity Solutions in DeFi

The Rise of Decentralized Identity Solutions in DeFi

byOlayinka Sodiq
20 October 2024
0

Read More

Chain of Thoughts

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Markets Update

Your Weekend Crypto Roundup | June 2025 (Week 4)

5 days ago

What South Korea’s Crypto Strategy Signals for the Next Bull Run?

6 days ago

Why Crypto Projects Are Choosing MiCA Over the US, Even With Regulatory Support on the Rise

6 days ago

Tokenized Treasuries vs. Stablecoins: Where Will Institutional Capital Flow?

6 days ago

Ethereum Transaction Fees Plunge to 5-Year Low Amid Network Lull: What This Means for the Crypto Market

7 days ago

First XRP ETF Approved on Toronto Stock Exchange— Is This a Green Light for XRP ETF Approvals in More Countries?

1 week ago
Read More

Events

  • No events
  • Spotlight

    All about Ethereum
    All about Algorand
    All about Bitcoin
    All about Gora

    Press Releases

    Oasis Protocol Foundation Launches ROFL Mainnet: Verifiable OffChain Compute Framework Powering AI Applications

    bychainwire
    2 July 2025
    0

    WEMADE & Redlab Unleash Web3 MMORPG – Global Pre-Registration Open for Aug 2025

    byPressRelease
    2 July 2025
    0

    PrimeXBT Launches ‘Trade as VIP’ Campaign Offering 70% Off Trading Fees

    bychainwire
    2 July 2025
    0

    Bybit Launches Bybit.eu, a Fully MiCAR-Compliant Platform for Europe’s Crypto Users

    bychainwire
    2 July 2025
    0

    R0AR’s $1R0R Token Roars onto MEXC Exchange, Expanding DeFi Accessibility

    bychainwire
    2 July 2025
    0

    Read More

    ADVERTISING

    ABOUT

    TEAM

    CAREERS

    CONTACT

    TERMS & CONDITIONS

    PRIVACY POLICY

    © Copyright 2025 DeFi Planet

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

    Add New Playlist

    No Result
    View All Result
    • News
      • People
      • Business
      • Crime
      • Regulation
      • Crypto
      • CBDC
    • Markets
      • Bitcoin
      • Ethereum
      • Stablecoins
      • Altcoins
      • Crypto ETFs
      • Memecoins
    • Policy
    • Articles
      • Press Releases
      • Opinion
      • Explainers
      • Guest Post
      • Sponsored
    • Directory
      • Companies
      • People
      • Products
      • Wallets
    • Multimedia
      • Videos
      • Podcasts
    • Learn
      • DeFi Basics
      • Tutorials
      • Reviews
      • Blockchain Fundamentals
    • Research
      • Case Studies
    • Explore
      • DeFi
      • Crypto Gaming
      • NFT
      • DAO
      • Metaverses
    • Jobs
    • Markets Pro
      • DeFi Planet Pro
      • Spend Crypto
      • Swap Crypto
      • Coin Prices
      • Crypto Exchanges
      • Crypto Analyzer

    © Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

    -
    00:00
    00:00

    Queue

    Update Required Flash plugin
    -
    00:00
    00:00