Disgraced Terra founder Do Kwon reportedly made crypto payments from a Montenegro prison while authorities delayed seizing his devices.
Delayed Seizure of Devices
Do Kwon, the founder of Terra, has reportedly managed to execute several cryptocurrency transactions from a prison in Montenegro. This occurred after authorities took 72 days to confiscate his crypto wallet details and electronic devices. Kwon was arrested on March 23, 2023, but his electronic devices weren’t handed to the investigating judge until June, according to Portal ETV.
Devices Found in Prison
Montenegro’s Special Police Department conducted a search and discovered laptops, mobile phones, and crypto wallet access codes. These devices were found among other belongings of prison detainees, including Kwon.
Alleged Crypto Transactions
During his time in custody, sources claim that Kwon made at least three crypto transactions. These transactions reportedly occurred through an account linked to a Podgorica mobile provider. However, Portal ETV could not verify the authenticity of these claims.
Delayed Action by Authorities
Sources from Montenegro’s National Security Agency (ANB) revealed that the police only confiscated Kwon’s devices after pressure from the Minister of Police and Police Directorate. They emphasized the need to remove all items that should have been confiscated on the day of Kwon’s arrest.
A Planned Escape?
Before his arrest in Montenegro, Kwon fled to Serbia following an international arrest warrant issued in September 2022. Reports suggest that Kwon was eventually pushed out of Serbia due to media scrutiny regarding the country’s role in harboring a crypto fraudster.
Security Forces Involvement
Some sources allege that Kwon was escorted from Belgrade to Montenegro by Serbia’s state security. This move may have been part of a larger plan to transfer him to a country with lenient extradition policies. However, reports indicate that Kwon’s arrest was likely planned, as Montenegro’s border officials were tipped off about his use of forged passports.
Suspicious Activity During Arrest
Interestingly, Kwon’s mobile phone, which was confiscated during his arrest, reportedly turned on following the discovery of a secret tunnel leading to the High Court’s evidence room. Authorities have not yet clarified whether this was a coincidence or a suspicious occurrence.
Future Extradition Uncertain
Montenegro’s justice minister has yet to make a decision regarding Kwon’s extradition to either South Korea or the United States. As the investigation continues, the legal ramifications for Kwon remain uncertain.
Moving Forward
The case against Do Kwon raises significant questions about cryptocurrency regulation and law enforcement’s ability to manage digital assets effectively. As the situation develops, it may lead to increased scrutiny of crypto operations globally.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
