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South Korea requested the extradition of the Terraform Labs CEO after his recent arrest in Montenegro.

South Korean prosecutors have reached out to Binance to request a halt on any withdrawal linked to Do Kwon.

Korean prosecutors have contacted the world's largest crypto exchange Binance requesting that it prevent Do Kwon from withdrawing funds.

Korean prosecutors have confiscated the assets of Terra executives, including Kwon Do-hyung, for a minimum amount of 414.5 billion won. However, Do Kwon does not have any assets in Korea.

Terra Classic is a community-run revival of the Terra Luna ecosystem that collapsed in a spectacular fashion in 2022. Since then, LUNC, the ecosystem's native token, has been subjected to burns to reduce the supply and drive the price upwards.

Despite the majority of digital assets in the cryptocurrency market demonstrating renewed strength in 2023, this has not been the case for Terra Classic (LUNC), the rebranded cryptocurrency of the distressed Terra (LUNA) ecosystem, and more pain could be in store, according to the machine learning-based prognosis.

South Korean authorities have confiscated assets worth millions of dollars from the employees of the blockchain firm Terraform Labs, according to a report.

Recent price activity suggests that LUNC is poised for a new southbound push, which is bad news for market bulls. A break to the south of the bearish triangle, one that appears to be forming on the cryptocurrency charts, could allow for a push to levels below $0.00010.

The drama surrounding Terraform Labs co-founder Do Kwon's extradition continues to unfold, leaving the fate of LUNA and LUN-C tokens hanging in the balance. Korean authorities have faced yet another setback in their pursuit of Kwon, as their efforts to obtain an arrest warrant have fallen flat.

Authorities in South Korea have reportedly seized assets worth billions of won belonging to former representatives of Terraform Labs. The measure should prevent suspects in the case with the failed blockchain firm from selling property that may have been obtained with criminal proceeds.

The extradition of TerraForm Labs founder Do Kwon from Montenegro has been requested by both the U.S. and South Korea, according to the country's Justice Minister Marko Kovac. This comes as a new report from The Korea Times reveals that Korea's efforts to have Kwon extradited could be complicated.

South Korean authorities have reportedly confiscated approximately $160 million worth of assets from eight individuals associated with the collapse of Terraform Labs (Terra) (CRYPTO: LUNA), including co-founder Daniel Shin.

The Seoul Southern District Prosecutor's Office has reportedly seized around $160 million worth of assets from eight individuals associated with Terraform Labs, including co-founder Daniel Shin. According to an April 3 report from South Korean news outlet KBS, the authorities confiscated approximately 210 billion won, which is equivalent to $160 million.

Lawyers representing Terraform Labs founder Do Kwon argue that the actions of the Securities and Exchange Commission (SEC) violate the law.

Following Do Kwon's capture in Montenegro, US and South Korean officials attempted to transfer him to their respective countries for prosecution.

Do Kwon, CEO of Terraform Labs, once denied U.S. jurisdiction during the absconding process. Will this decision be repeated?

Luna Classic (LUNC), the cryptocurrency behind the now-defunct original Terra blockchain that was destroyed in May 2021, was last trading near $0.0001221, only slightly higher than the $0.000117 lows it hit earlier this month. LUNC has performed poorly, despite other major cryptocurrencies rallying in March.

As part of its monthly routine, cryptocurrency exchange Binance burned another round of Terra Classic [LUNC] tokens, Terra Finder disclosed. The 1 April action saw the exchange, which committed to the LUNC community proposal last year, burn over 1.6 billion LUNC.

Terra, the cryptocurrency ecosystem that collapsed in May 2022, made a prominent appearance at Nationals Park during the Washington Nationals' home opener on March 30. Despite Terra's collapse, a partnership between the company and the baseball team had been in effect since February 2022, with the Terra community committing $38.2 million over five years to secure the deal.

A South Korean court denied a request for an arrest warrant for Terraform Labs co-founder, Shin Hyun-Seong, citing unconfirmed allegations and the unlikelihood of Shin being a flight risk. Shin currently faces multiple fraud charges and is accused of hiding risks associated with investing in Terraform Labs' in-house tokens.

Montenegro is racing against time to put Terra co-founder Do Kwon behind bars as US and South Korean authorities vie for his extradition. The 36-year-old Montenegrin prosecutor Haris Šabotić, who is set to face Kwon in court, has revealed that they are only concerned with charging him for using forged documents.

The world's largest crypto exchange Binance has burned 1.6 billion LUNC tokens in the 8th batch of the LUNC burn mechanism. The total Terra Luna Classic (LUNC) tokens burned has now reached over 52.5 billion, with Binance contributing 58% to the total LUNC Terra Luna Classic community.

Shin currently faces multiple fraud charges, specifically concerning allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs.

Do Kwon is in for a grim year In one Of Montenegro's worst jails.