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A court in Montenegro ruled Thursday that Terraform Labs co-founder Do Kwon will be extradited to his native South Korea to face criminal charges regarding the May 2022 multibillion-dollar blow-up of the Terra ecosystem.
In a recent decision that underscores the complexities of navigating legal challenges within the cryptocurrency industry, Terraform Labs has received the green light from a U.S. bankruptcy court to engage the services of the global law firm Dentons. The development comes amid Terraform's ongoing battle with the U.S.
A U.S. court has allowed Terraform Labs to hire law firm Dentons to defend the company in a lawsuit brought against it by the U.S. Securities & Exchange Commission (SEC) in Jan. 2024.
The Terraform Labs and UST crisis triggered a market crash, costing investors billions.
US authorities are seeking to challenge the recent verdict by the Montenegrin high court, which ordered the extradition of Do Kwon to South Korea rather than the United States. US prosecutors want Kwon extradited and to face prosecution for his role in the 2022 collapse of the Terra Luna ecosystem.
In a recent development, a group of South Korean investors affected by the Terra-Luna collapse has voiced their preference for Terraform Labs co-founder Do Kwon's extradition to the United States rather than South Korea. This comes after a Montenegro high court decided to extradite Kwon to South Korea.
South Korea has expressed readiness to take necessary steps in conjunction with Montenegrin authorities to secure Kwon's extradition.
Former Terraform Labs CEO Do Kwon is set to be extradited to South Korea following a ruling from the High Court of Montenegro.
The Justice Department's resolve comes as an appeals court overturned a previous ruling by a high court to extradite the former Terraform Labs CEO to the US.
Will Do Kwon's extradition to South Korea be the end of his legal battle?
Despite Montenegro's High Court ruling for Do Kwon's extradition to South Korea, the U.S. is not backing down.
The jurisdictional tug-of-war between U.S. and South Korean prosecutors over Terra founder Do Kwon continues to drag on.
Over the past few days, events in the case of the extradition of Terraform Labs founder Do Kwon have moved into overdrive. Following a ruling by the Supreme Court of Montenegro favoring his extradition to South Korea, the United States is continuing to press on with its efforts to secure Kwon's extradition.
US Prosecutors are aiming to continue seeking the extradition of the Terraform Labs Co-founder, Do Kwon, in spite of Montenegro's High Court ruling of handing him over to South Korea to face charges over the $40 billion TerraUSD stablecoin collapse that had taken place in the year 2022.
According to local reports, a court ruling in Montenegro on Thursday declared that Do Kwon, co-founder of Terraform Labs, will be extradited to South Korea.
The South Korean investor community urged authorities to send the Terraform Labs co-founder to the US for 'heavier punishment.'
The United States prosecutors are set to contest the latest Montenegrin high court ruling favoring Do Kwon's extradition to South Korea, prolonging the legal battle over the Terraform Labs co-founder's fate.
U.S. prosecutors have declared their intention to appeal a recent decision by a Montenegrin high court regarding the extradition of Do Kwon, the former CEO of Terraform Labs, to South Korea.
The U.S. will appeal the ruling of a Montenegro Court to hand Terraform Labs co-founder Do Kwon to South Korea, according to Bloomberg.
Despite Montenegro's High Court ruling to extradite former cryptocurrency mogul Do Kwon to his home country of South Korea, prosecutors in the US remain committed to pursuing his extradition. The disgraced Terra founder Do Kwon faces charges related to the $40 billion collapse of the TerraUSD stablecoin in 2022.
US DOJ said it will continue to pursue the extradition of Terraform Labs co-founder Do Kwon from Montenegro, according to Bloomberg.
Do Kwon, the brains behind Terraform Labs, is on the verge of being sent back to South Korea from Montenegro after an important court decision slated for after March 23. This revelation came from Kwon's lawyer in a discussion with media outlets.
South Korea intensifies efforts to extradite Terraform Labs CEO Do Kwon by seeking INTERPOL's cooperation after a Montenegrin court rejects U.S. extradition.
The United States and South Korea have been fighting for Kwon's extradition since he was arrested in March 2023.
