Terraform Labs co-founder Do Kwon has reportedly been charged with using a fake passport by authorities in Montenegro.
Terraform Labs co-founder Do Kwon has been charged with using a fake passport by authorities in Montenegro, DL News reported, citing a court filing.
Kwon, a South Korean national, was arrested while trying to leave Montenegro on a private jet last month. He is accused of trying to travel with a fake Costa Rican passport.
TerraUSD, the stablecoin created by Terraform Labs and often known by its ticker UST, collapsed in May last year, wiping out tens of billions of dollars for investors. The incident was the first of a series of crises to hit crypto markets over the course of 2022, including the bankruptcies of crypto lender Celsius and exchange giant FTX.
If convicted of the document-related charges, Kwon faces a sentence of three months to five years in jail, DL News said.
