Cryptocurrency

Do Kwon saga erupts into Montenegrin political scandal

Disgraced Terraform Labs co-founder Do Kwon has established ties to a prominent Montenegro politician, according to Korea News Agency union.

Montenegro’s prime minister revealed the information just days before the country’s upcoming parliamentary elections. June 11th.

At a press conference on June 8, Abazovich told reporters that he had received a handwritten note from Do Kwon detailing illegal political contributions to Mirojko Spadjić., From the Europe Now party since 2018.

According to Yonhap News, foreigners cannot provide political contributions or campaign funds, and all donations must be reported to the Anti-Corruption Bureau.

A letter with the same content was also sent to: Prime Minister Abazovic, Minister of Justice Marko Kovac and the Special Prosecutor’s Office. Abazovich responded by calling for an investigation to find out the truth of the matter. He said:

Given that the US and South Korea are demanding Kwon Do-hyun’s extradition, if the contact between Spisi and Kwon Do-hyun is true, it would be bad news for Montenegro. We must not become a hotbed of global scammers.

Spajic admitted to working at Terraform Labs in its early days in 2018, but denied receiving illegal political contributions. He said:

“This is a conspiracy theory made up to stop ‘Europe Now’ from winning the general election.”

Spazic provided He served as Minister of Finance of Montenegro from December 2020 to May 2022, and Yonhap News said it actively supported the cryptocurrency industry during his tenure.

On March 23, Do Kwon was arrested while trying to leave Podgorica airport on a plane, ending a year-long search after the Terra ecosystem collapse.

It is estimated that the investor’s loss is $60 billion.

An article about Do Kwon’s subsequent story breaking out into a political scandal in Montenegro first appeared on CryptoSlate.

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