Bitrabo Editorial
A developing situation involving Do Kwon, co-founder of the defunct Terraform Labs, has emerged, indicating he may have participated in cryptocurrency transactions while being held in a Montenegrin prison.
This information surfaces after an extended duration where officials reportedly waited 72 days before confiscating his electronic devices and wallet access codes post-arrest.
Discovery of Electronics and Crypto Codes in Prison
According to local media reports from the Special Police Department, a search of inmates’ possessions at the Spuž prison yielded laptops, mobile phones, and access codes tied to digital wallets and blockchain accounts.
Kwon, who was apprehended at Podgorica airport on March 23, 2023, alongside his associate Chang Yun Han, had a mobile device seized during his capture which allegedly “reactivated” after the discovery of a tunnel linked to the High Court depo.
This incident has led to speculation regarding possible “external communications” during Kwon’s time in detention in Montenegrin custody.
Authorities have yet to clarify if the reactivation of Kwon’s phone was a coincidence or if it revealed a broader network facilitating his cryptocurrency interactions.
Evidence suggesting links of campaign financing and joint enterprises between Do Kwon and Montenegro’s Prime Minister Milojko Spajić was reportedly found on one of the seized laptops. However, the official investigation has not validated these claims.
The Montenegrin courts reported that they did not have custody of Kwon’s devices until June 5, 2023, despite his arrest almost four months prior.
Ongoing Investigations in Do Kwon’s Case
Media attempts to gather information about Kwon’s alleged blockchain transaction activities have met with vague responses from the Basic Prosecutor’s Office and the High Court, which referred to protecting the integrity of ongoing proceedings.
There are claims that Kwon may have completed at least three transactions from his cryptocurrency wallet while detained, using an account belonging to a Podgorica firm involved in mobile device sales, adding complexity to his ongoing narrative of alleged misconduct during imprisonment.
Montenegrin officials assert that the confiscation of Kwon’s electronic devices took place only following the direction of then-Minister of Police Filip Adžić, who mandated the removal of all “relevant materials” from the prison.
This situation has prompted allegations of preferential treatment toward Kwon, insinuating he had access to vital devices that should have been secured at the outset.
As investigations progress, uncertainties persist about the degree of Kwon’s control over his cryptocurrency assets while in detention. With extradition procedures pending to either the U.S. or South Korea, Do Kwon has largely refrained from commenting during the proceedings.
As of now, Terraform’s native token Luna Classic (LUNC) is priced at $0.00009151, reflecting a nearly 2% increase over the past 24 hours.
Image sourced from DALL-E, chart data from TradingView.com