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- Do Kwon sent money to a law firm as a precaution.
- Do Kwon is still being held in Montenegro, and his extradition request has gone unanswered.
It has been revealed that Terra
Preparations Made for Terra’s Collapse!
South Korean prosecutors confirmed that Do Kwon, CEO of Terraform Labs, sent 9 billion won (7 million dollars) to Kim & Chang, one of South Korea’s leading law firms, just before the collapse of the Terra ecosystem.
Kwon’s decision to send millions of won to the law firm was marked by prosecutors as an intentional move and evaluated as an action to be aware of the impending collapse and take precautions against expected legal problems.
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This information is thought to help the ongoing fraud case. In addition, it was reported that lawyers from Kim & Chang visited Montenegro to meet with Kwon and Han Chang-joon, Terraform’s former chief financial officer.
No Result Yet for Kwon’s Extradition Request
Previously, Kwon was arrested at Podgorica airport in Montenegro for attempting to travel to Dubai using fake documents. Following his arrest, both US and South Korean authorities requested Kwon’s extradition. However, the court has not yet made a decision.
The US has requested the extradition of Do Kwon, the founder of #Terra, from Montenegro.
— CO NEWS (@coinotag) March 29, 2023
On April 7, South Korean prosecutors announced that they suspect Kwon of converting illegal funds obtained from Terra.
In total, prosecutors identified 414.5 billion won (314.2 million dollars) of illegal assets associated with Kwon and his partners at Terraform Labs, of which approximately 91.4 billion won (69 million dollars) is directly linked to Kwon.
A Binance spokesperson said, “We have provided assistance to Korean law enforcement authorities. As we cannot comment on ongoing law enforcement investigations, please contact the prosecutor’s office for further comments.”
