Do Kwon, the founder of the now-defunct Terra USD (UST) and Luna (LUNA) cryptocurrencies, could face up to five years in a Montenegrin prison before being extradited to South Korea or the United States.

Kwon is currently under quarantine for COVID-19 and will soon be sharing a cell with other inmates in a Montenegrin prison, according to a report by a local lawyer.

Montenegro Prisons a 'Hell On Earth'...

However, the prisons in Montenegro are notoriously overcrowded, and inmates are often subjected to aggressive treatment by prison staff.

Amnesty International has raised concerns about the conditions and rights of detainees in Montenegrin prisons, including the lack of independent investigations into ill-treatment.

The cell Kwon will be occupying is only 8 square meters and is usually filled with between 10 and 11 people, leaving no room for a bed.

Inmates are only allowed a 30-minute walk in the prison yard each day and can only purchase limited items like cigarettes and coffee.

Montenegro now the first of 3 nations that will need to take turns locking up Kwon...

Kwon's initial arrest in Montenegro was due to presenting false documents, is a crime that carries a penalty of up to five years.

While both South Korea and the United States have requested Kwon's extradition, Montenegro has yet to make a decision.

If Montenegro decides to pursue it, this could be the first of three nations aiming for him to serve time in their prisons.

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Author: Mark Pippen
London News Desk 
Breaking Crypto News 

Officials in Montenegro have arrested Luna founder Do Kwan. 

First detained when officials at the Podgorica airport noticed his false documents, the man in custody spent hours denying he was the South Korean fugitive, until South Korean officials provided fingerprint records that were used to confirm his identity. 

"The former 'cryptocurrency king' who is behind losses of more than 40 billion dollars, was detained at the Podgorica airport with falsified documents, and the same is claimed by South Korea, the USA and Singapore. We are waiting for official confirmation of identity" Tweeted Montenegro's Minister of Interior.

Then minutes before this story was published, Interpol confirmed to us that a positive ID has been made - the person in custody IS Do Kwon.

Along with him another man stating he was his 'assistant' going by the name 'Han' was also arrested, there is no word on the actual identity of this person. 

What's Next for the Luna Founder?

While charged with crimes in both the US and South Korea, US prosecutors have said that they will seek Kwon’s extradition to the United States where he is charged with 8 federal violations including securities fraud, wire fraud, commodities fraud, conspiracy, and market manipulation.

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Author: Adam Lee 
Asia News Desk / Breaking Crypto News