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The Appellate Court of Montenegro has overturned a previous ruling to extradite Do Kwon, the incarcerated co-founder of the Terra blockchain network, to the United States.

Montenegrin court blocks Terra co-founder Do Kwon extradition to the US, citing procedural issues.

A Montenegro court has canceled the approval of the Terraform Labs co-founder Do Kwon's extradition to the U.S.

Terra co-founder Do Kwon has seen another victory in the extradition case to the United States. The Montenegro higher court overruled the decision of a lower court to extradite Do Kwon to the US, according to a translated version of the statement issued on Tuesday.

The latest overruling by the Appellate Court of Montenegro marks another event in the long history of Kwon's extradition process after his arrest in March 2023.

Nothing is going right in Terra Land, the latest conflict between Terraform Labs vs SEC over legal fee payments to Dentons U.S. LLC, the company's special counsel in its Chapter 11 bankruptcy case, has escalated, raising concerns about fair legal representation amid regulatory scrutiny.

Kwon is facing fraud charges in the U.S. around his role in Terra's collapse.

In its objection, the regulator argued that Terraform Labs "siphoned" $166 million into an "opaque slush fund" for law firm Dentons.

It's a great time for the crypto ecosystem.

Terraform Labs and its founder, Do Kwon, find themselves embroiled in a legal confrontation with the United States Securities and Exchange Commission (SEC). The regulatory body has sued the company over the catastrophic collapse of Terra in May 2022, alleging misuse of funds that were ostensibly allocated for legal defenses.

Do Kwon's Terraform Labs, the company responsible for the collapsed Terra cryptocurrency project, is currently entangled in a legal dispute with the U.S.

The United States Securities and Exchange Commission (SEC) is suing Terraform Labs and its founder, Do Kwon, over the May 2022 collapse of Terra. The SEC alleges that spending a substantial sum on lawyers was an effort to evade repaying creditors.

Tensions escalate in the legal arena as Terraform Labs challenges the objections raised by the U.S. Securities and Exchange Commission (SEC) regarding the payment of legal fees to Dentons U.S. LLC, the company's special counsel in its Chapter 11 bankruptcy case. A recent filing submitted to a Delaware court on Monday sheds light on the

Terraform Labs has challenged the SEC's objection to its retention payment of Dentons as special counsel in its Chapter 11 bankruptcy case.

Shiba Inu (SHIB) and Terra Luna Classic (LUNC) are not out even as fresh meme coins like Bonk and Pepe dominate the headlines. SHIB price has surged for seven straight days and moved to its highest point since May 2022. It has soared by over 263% from its lowest point in 2023.

Last year, the SEC claimed that Terraform and Kwon's actions caused over $40 billion in losses for investors, especially those in the U.S. Do Kwon's Extradition Delay Procedural Errors and Complexity: Legal representatives of Do Kwon provided an update on his extradition process from Montenegro in a recent court filing. The filing highlighted a longer-than-anticipated delay due to procedural errors by the High Court.

Do Kwon, the embattled former CEO of Terraform Labs, is currently stranded in Montenegro due to extradition delays, following accusations by the U.S. Securities and Exchange Commission (SEC) of conducting a massive fraudulent crypto scheme.

The U.S. Securities and Exchange Commission has raised significant concerns over Terraform Labs' financial maneuvers, urging the Delaware bankruptcy court to scrutinize a $166 million payment to law firm Dentons. Questionable Financial Moves The SEC revealed a series of financial transactions, with Terraform Labs allegedly transferring $166 million to Dentons since the beginning of 2023.

The SEC has raised concerns that this transaction might have been designed to avoid resolving an impending judgment in the SEC's lawsuit.

The financial watchdog contends the payment may be intended to avoid future judgments and should instead aid investors and creditors.

According to a Reuters report, the US Securities and Exchange Commission (SEC) has raised concerns regarding Terraform Labs' hiring of the law firm Dentons and the payment of litigation costs for its employees during the company's bankruptcy proceedings.

While acknowledging Dentons as legal counsel, the SEC deemed the amount transferred as “extraordinary,” taking action to protect Terraform Lab's assets due to inadequate disclosures and bankruptcy regulation non-compliance. SEC Accuses Terraform Labs of Suspicious Fund Transfers The SEC revealed that Terraform Labs had transferred $122 million to Dentons within 90 days before filing for bankruptcy, a timing the SEC considers suspicious.

The US Securities and Exchange Commission (SEC) accused Terraform Labs of transferring around $166 million to Dentons U.S. LLC, a law firm, under the guise of an Advance Retainer Payment. The SEC views this move as an effort to divert assets from the company ahead of any court decision.

The regulator argued that Terraform Labs "siphoned" the money into an "opaque slush fund for its lawyers."