• Do Kwon denies forging his travel documents and claims they were issued by a Chinese agency recommended by a friend.
• Kwon has pleaded not guilty to passport fraud allegations in Montenegro and remains under house arrest in the country.
• He is currently wanted in both the US and South Korea and could face multiple jail terms if found guilty of forging his travel documents.
Do Kwon Denies Forging Travel Documents
Do Kwon, the founder and CEO of Terraform Labs and creator of the collapsed Terra algorithmic stablecoin project, has denied any wrongdoing after being arrested by law enforcement agents in Montenegro last March for allegedly using forged travel documents. In a Podgorica district court, Do Kwon stated that the fake passport and travel documents found on him were issued by an unnamed Chinese agency recommended to him by a friend.
Kwon Pleads Not Guilty To Passport Fraud Allegations
Kwon pleaded not guilty to passport fraud allegations in Montenegro last month and has urged authorities to punish him alone if somebody must be punished for the forged travel document offense. He also claims that former chief financial officer Han Chong-joon is innocent of all charges related to this incident. Currently, Do Kwon remains under house arrest in Montenegro while he is still wanted in both the US and South Korea with potential jail time if found guilty of forging his travel documents.
Additional Details On The Incident
When Do Kwan was arrested, he was allegedly trying to flee Montenegro with forged travel documents alongside Han Chong-joon. As reported by South Korean media platforms MBN News and Segye Ilbo, Do Kwan told investigators that he did not know his papers were fake as they were obtained through “trusted” agencies whose exact name he can no longer remember. Prosecutors have also hinted that he may have millions stored away in Swiss accounts which are yet to be verified or confirmed.
The Impact Of This Incident On Cryptocurrency Projects
The collapse of Terra algorithmic stablecoin project due to this incident has caused many cryptocurrency projects to rethink their strategies when it comes to trust management, risk mitigation, compliance procedures, etc., as well as reconsider their relationships with third parties involved in issuing documents such as passports or visas for international travels. The incident may also cause additional scrutiny from regulatory bodies when it comes to evaluating new projects involving cryptocurrencies or digital assets going forward.
In conclusion, while Do Kwan pleads not guilty for passport fraud allegations related to this incident due to obtaining his papers through trusted sources whose details are now unknown; there are many implications on cryptocurrency projects when it comes trust management, risk mitigation procedures etc., along with additional scrutiny from regulatory bodies for similar projects moving forward
Felix Schulze ist unser Krypto-Enthusiast und Chefredakteur im Team. Der studierte Wirtschaftsinformatiker hat sich schon früh, seit 2017, intensiv mit den technischen Grundlagen von Bitcoin und Blockchain-Anwendungen beschäftigt.
Er betreibt einen der populärsten deutschsprachigen Blogs zu diesen Themen und produziert einen viel gehörten Podcast für Krypto-Fans. Mit seinem enormen Wissensschatz hat Felix sich längst als einer der führenden Experten für die funktionellen und technologischen Details rund um Bitcoin etabliert. Er steuert spannende Hintergrundberichte und Technik-Analysen für unsere Leser bei.