Do Kwon has reportedly managed to carry out multiple cryptocurrency transactions from a prison in Montenegro after authorities took 72 days to seize his crypto wallet login details and electronic devices.
The founder of Terra was arrested on March 23, 2023, but it wasn’t until June of the same year that his electronic devices were finally handed over to the investigating judge, as reported by Portal ETV.
An official from Montenegro’s Special Police Department disclosed that laptops, mobile phones, crypto wallet login details, and other codes for blockchain access were discovered during a search of prison detainees, including Do.
According to sources, at least three cryptocurrency transactions were carried out using Do’s crypto wallet while he was in custody. These transactions were allegedly conducted through an account linked to a mobile telephony company in Podgorica. However, the validity of these claims could not be confirmed by Portal ETV.
Sources from Montenegro’s National Security Agency (ANB) revealed that Do’s devices were only confiscated after the Minister of Police and Police Directorate requested the seizure of all items that should have been taken on the day of his arrest.
Speculations on Do Kwon’s Arrest
Prior to his arrest in Montenegro, Do had fled to Serbia following an international arrest warrant issued in September 2022. Reports suggest that his departure from Serbia was influenced by media pressure in late 2022 and early 2023, accusing the country of harboring a crypto fraudster.
Allegations suggest that Do was escorted from Belgrade to Montenegro by Serbia’s state security officials as part of a scheme to transport him to a Middle Eastern country with lenient extradition laws. However, sources claim that his arrest was premeditated, with Montenegro’s border force being tipped off about his use of forged passports.
Interestingly, Do’s mobile phone, one of the devices seized during his arrest, mysteriously turned on when a secret tunnel leading to the High Court evidence room was uncovered. Authorities reportedly overlooked investigating whether this incident was coincidental or suspicious.
The decision on whether Do will be extradited to South Korea or the US rests with Montenegro’s justice minister and is yet to be finalized.