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Terra Founder Do Kwon Allegedly Have Political Ties: Montenegro Prime Minister

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Terra co-founder Do Kwon is alleged to have political ties with a political party leader in Montenegro. Outgoing Prime Minister Dritan Abazović, outgoing Justice Minister Marko Kovac, and the Special State Prosecution Office are said to have received a letter from Do Kwon claiming that he financed Europe Now political party.

Do Kwon Have Ties With Montenegro’s Political Party Europe Now

Montenegro Prime Minister Dritan Abazović claims he read the handwritten letter by Terra co-founder Do Kwon and sent it to the prosecutor’s office.

According to the letter, Do Kwon having ties with former Finance Minister Milojko Spajić since 2018. Spajić is also the president of the Europe Now political Party. Terra co-founder claims to have financed Europe Now political party.


Outgoing Prime Minister Dritan Abazović, political parties, and NGOs called on the Special State Prosecution on Tuesday to investigate the allege links between Do Kwon and Milojko Spajić.

“It’s not good for Montenegro if Spajic had contacts with Do Kwon, because the man is wanted by the US and South Korean authorities. We cannot become a breeding ground for global fraudsters, even if they use blockchain or anything else.”

Spajić denied these claims and said he informed about Do Kwon’s presence in the country to Minister of Interior Filip Adzic. However, Prime Minister Dritan Abazović says it’s not true.

Spajić confirmed that he knew Do Kwon since 2018 as his friends and the company he worked for invested in the Terra project. “Which is why we had the special satisfaction of reporting him to authorities.”


As Finance Minister, Spajić promoted the crypto industry in Montenegro. Ethereum co-founder Vitalik Buterin was also granted Montenegrin citizenship last April. Buterin and Spajić also promoted the Ethereum Development Conference in May 2023.

Also Read: Former SEC Chief Predicts Who Will Win, US SEC Or Crypto Giant Binance?

Terra Co-Founder Bail Request Approved by Montenegro Court

CoinGape Media reported earlier, the Montenegro Basic Court has approved Terra co-founder Do Kwon and former chief financial officer Han Chang-joon’s bail request for the second time on June 2. The new bail has several conditions including compliance with court summons, surveillance, and other measures.

On June 7, Montenegro prosecutors appealed again against the court’s decision in the ongoing passport forgery case. Prosecutors believe Do Kwon and Han Chang-joon must remain in custody. The decision on the appeal will be taken by a Montenegro High Court.


Also Read: Crypto Bull Cathie Wood’s ARK Invest Buys $21 Million In Coinbase (COIN) Shares

Mooky Presale


Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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