Do Kwon, the creator of failed algorithmic stablecoin TerraUSD, will remain in prison after Montenegro’s highest court denied his appeal.
The disgraced former CEO of Terraform Labs and another company executive were sentenced to four months in prison by a lower Montenegrin court in June after being convicted of using a fake passport to try to flee to Dubai via private jet. Judges in Montenegro are separately considering whether Kwon will be extradited, with his native South Korea competing with the U.S. for the authority.
