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TerraClassic, a decentralized stablecoin on Terra Classic, has surged by over 223% in the past 24 hours following a de-pegging incident in May 2022. Meanwhile, a local court in Podgorica has paved the way for the potential extradition of Do Kwon, the founder of Terraform Labs.
The market leader, Bitcoin, has continued displaying a neutral trend for over a week, with top cryptocurrencies riding in its footsteps. On the other hand, Terra tokens after trading in a consolidated range for weeks have displayed massive price action over the weekend by adding significant value to their respective portfolios.
Amidst the legal turmoil surrounding Terraform Labs and its founders, the cryptocurrency they created, Terra Classic (CRYPTO: LUNC) is blazing past Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). What Happened: Terra Classic is up 25%, trading at $0.000099.
A court in Montenegro's capital, Podgorica, approved Do Kwon, the founder of the Terra ecosystem, extradition to either South Korea or the United States. Montenegro's Minister of Justice will decide which country Kwon goes to.
In the dynamic world of cryptocurrency, recent events have unveiled significant developments that showcase both the complexities and unusual facets of this burgeoning industry. From legal maneuverings to unconventional trading approaches, the landscape continues to intrigue and captivate stakeholders worldwide.
The extradition of disgraced Terra (LUNA) founder Do Kwon to the US and South Korea has been approved by a court in Montenegro. In a new press release, the Higher Court of Podgorica has ruled that the legal requirements needed for extraditing Kwon to the US and South Korea have been met.
Reports from Podgorica, Montenegro's capital, reveal a recent decision by the Higher Court regarding Terraform Labs co-founder Do Kwon.
As Montenegro greenlights Do Kwon's extradition, two other countries can't wait to serve justice to the controversial crypto entrepreneur.
Terraform Labs and its former CEO Do Kwon are currently embroiled in a high-stakes legal battle with the U.S. Securities and Exchange Commission (SEC), stemming from the dramatic collapse of the UST stablecoin.
The saga of Terraform Labs founder Do Kwon continues to unravel with a court in Podgorica, the capital of Montenegro, approving his extradition — though the Montenegrin Minister of Justice will make the final decision on whether he will be extradited to South Korea or the United States.
Former Terraform Labs CEO Do Kwon may soon be extradited to the US or South Korea following a ruling from the Montenegrin High Court. Kwon has agreed to be deported to South Korea, but the final decision lies with Justice Minister Andrej Milovic.
The High Court in Podgorica, Montenegro, approved the extradition of Do Kown, the co-founder and CEO of Terraform Labs (CRYPTO: LUNA), marking a pivotal moment in the ongoing legal proceedings against the crypto entrepreneur. The court's ruling came in response to a request from South Korea's Ministry of Justice on March 29, 2023, and its subsequent amendment on Sept.
Terraform Labs and former CEO Do Kwon remain locked in a legal battle with the US Securities and Exchange Commission over the now-infamous depeg and collapse of the stablecoin UST.
The recent decision by the higher court in Podgorica, Montenegro, comes as a result of the request for extradition put forth by both the Ministry of Justice of the Republic of Korea and the Ministry of Foreign Affairs of the United States of America. The court filing on November 24 outlined that the legal prerequisites for Do Kwon's extradition to both South Korea and the United States have been met, signifying a critical juncture in this international legal saga.
In a decision by the Podgorica High Court, ex-Terraform Labs chief executive Do Hyeong Kwon (Do Kwon) is set to be extradited following his four-month incarceration in Montenegro for fabricating travel papers.
Terraform Labs co-founder Do Kwon could be extradited to South Korea or the US after a Montenegro court approved the process. The verdict was rendered by the High Court of Podgorica and the fugitive crypto entrepreneur's fate now lies with the Montenegro Justice Department.
A Montenegrin court has approved the extradition of former crypto mogul Do Kwon, with a decision pending on whether he will be extradited to South Korea or the US, both of which are seeking his custody. Kwon is accused of a multibillion-dollar fraud in the US through Terraform Labs, the cryptocurrency company he founded and headed until its collapse in May 2022.
The extradition approval comes amidst allegations of financial misconduct. However, specific details surrounding the charges remain undisclosed.
Do Kwon faces multiple fraud-related and civil allegations from US federal prosecutors.
The High Court disclosed that he has opted for an expedited extradition to South Korea. A minister will decide whether to hand him over to South Korea or the United States.
A final decision on which country takes precedence for Do Kwon's extradition rests with Montenegro's Minister of Justice.
Terraform Labs founder Do Kwon faces possible extradition to either the United States or South Korea, as confirmed by an update on a court website in Montenegro on Nov. 24. The High Court of Podgorica stated that the necessary legal conditions for Kwon's extradition to either country had been satisfied.
The Terraform Labs founder will serve his four-month sentence in Montenegro for document forgery before a final decision on his extradition.
A court in Montenegro said on Friday it had approved the extradition of cryptocurrency entrepreneur Do Kwon, leaving a minister to decide if he will be handed over to South Korea or the United States, which both want him.
