Do Kwon Admits Guilt to Charges Linked to Terraform Role

Do Kwon, the co-founder of Terraform Labs, has agreed to plead guilty to two criminal charges in Montenegro related to fraudulent travel documents. This development marks a significant shift in the ongoing legal battle surrounding the collapse of the controversial TerraUSD stablecoin. Kwon and another executive, Han Chang-joon, were arrested in March for using forged Costa Rican passports. Despite previous attempts to contest his extradition to either South Korea or the United States, Kwon now appears to have chosen to accept responsibility for his actions in Montenegro. Reports suggest Kwon will likely face a four-month prison sentence for document forgery, representing a partial victory for authorities seeking to hold him accountable. While this guilty plea marks the end of one chapter, it also paves the way for further potential legal proceedings in both South Korea and the United States, where Kwon faces a host of criminal charges related to the downfall of Terraform Labs.