1. Kwon Do-Hyung, commonly known as Do Kwon, is a South Korean former businessman and software engineer.
20 Facts About Do Kwon
1. 2.
Do Kwon was the co-founder and CEO of Terraform Labs, the parent company of crashed stablecoin TerraUSD and cryptocurrency Luna.
3.
On 23 March 2023, Do Kwon was arrested in Montenegro, while attempting to travel to Dubai using falsified documents.
4.
In December 2024, after multiple court cases, Do Kwon was ordered to be extradited to the United States.
5.
Do Kwon was born in Seoul, South Korea, on 6 September 1991.
6.
Do Kwon attended Daewon Foreign Language High School in Seoul and received Bachelor of Computer Science from Stanford University in 2015.
7.
In January 2016, Do Kwon returned to South Korea to develop and found his startup, Anyfi.
8.
On 17 May 2022, members of the Korean parliament and government authorities called for a potential parliamentary hearing regarding Terraform Labs and its founder Do Kwon, citing the lack of regulatory framework as the main reason for the impeded investigation on the events that took place.
9.
Do Kwon responded by stating that he wouldn't comply with the demands and instead would be suing the SEC.
10.
The SEC had argued that Do Kwon secretly sought third-party financing after TerraUSD slipped from its stablecoin peg and then falsely stated in May 2021 that the recovery was because of algorithmic stability.
11.
In December 2022, South Korean authorities shared their belief that Do Kwon was hiding in Serbia, which did not have an extradition treaty with South Korea.
12.
On 23 March 2023, Do Kwon was arrested at Podgorica Airport in Montenegro, which did not have an extradition treaty with either South Korea or the United States, while attempting to travel to Dubai using falsified Costa Rican documents.
13.
Do Kwon was found to be carrying falsified Belgian travel documents.
14.
On 11 May 2023, Do Kwon pled not guilty to a charge of using a forged Costa Rican passport to travel through the Montenegro airport where he was arrested.
15.
Do Kwon appealed the court ruling, but lost the appeal in Montenegro's highest court.
16.
On 11 January 2024, Do Kwon's lawyers asked to delay the trial in SEC v Terraform Labs to mid-March 2024 so that Do Kwon could be extradited to the US and attend.
17.
On 18 October 2024, The Constitutional Court of Montenegro temporarily suspended the extradition of Do Kwon pending its review of his appeal.
18.
In December 2024, after another Supreme Court ruling decided that the Minister of Justice had the final say and Do Kwon consented to extradition to either the United States or South Korea, Minister Bojan Bozovic, ordered his deportation to the former based on the preponderance of the legal criteria for extradition.
19.
In June 2023, documents and data on Do Kwon's confiscated laptop, including a letter by Do Kwon himself, were revealed to contain information showing that he allegedly backed Milojko Spajic, the former minister of finance and social welfare in the Government of Montenegro and the current Montenegrin prime ministerial candidate of the opposition party, Europe Now, with funds for the upcoming election.
20.
In 2023, Do Kwon said that he held a legitimate passport from Costa Rica.