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The decision to release Kwon reportedly came from the Council of the Supreme Court, which is set to review a decision that could grant or deny extradition to his native South Korea.
Do Kwon, the South Korean crypto fugitive, was reportedly set free from prison in Montenegro over the weekend.
The prices of Terra Luna Classic ecosystem tokens LUNC and USTC experienced a huge surge following news of Terra co-founder Do Kwon being released by the Montenegro Supreme Court. Despite Terraform Labs (TFL) and Do Kwon severing ties with the Terra Classic chain, the tokens still saw substantial gains.
Another day, another twist in the extradition saga for the disgraced Terraform Labs co-founder Do Kwon.
Terra Luna Classic ecosystem tokens LUNC and USTC prices saw a massive surge after the Montenegro Supreme Court released Terra co-founder Do Kwon. While Terraform Labs (TFL) and Do Kwon had separated ties with the Terra Classic chain, the tokens still recorded significant gains along with over 26% gain in Terra (LUNA).
Montenegro authorities have announced the release of Terra (LUNA) founder Do Kwon from prison, under house arrest, following a forgery case. The Supreme Court confiscated Kwon's travel documents for security.
Terraform Labs co-founder Do Kwon is now set to be released from prison in Montenegro; however, the South Korean will remain restricted to the borders of the European nation pending a fixed date for his extradition to his home country.
Do Kwon's legal troubles seem to be never-ending? With his trial pending in the U.S. and the extradition deal not yet cleared and confirmed legally, Do Kwon, the co-founder of Terraform Labs, has been ordered from incarceration to house arrest in the latest court order.
Terraform co-founder Do Kwon is set to be released from prison in Montenegro but will remain in the country due to facing criminal charges from multiple countries.
The Supreme Court of Montenegro is postponing the extradition of disgraced Terra (LUNA) founder Do Kwon to South Korea.
Per the High Court decision, Do Kwon will be released from prison in Spuž on Saturday but will not be allowed to leave Montenegro.
Terraform Labs co-founder Do Kwon, according to a recent ruling, is set to be released from jail and placed under house arrest, a decision made by the Montenegrin court system. This comes in the midst of an intricate legal issue involving extradition requests from South Korea, where Kwon is wanted in connection to the collapse
Do Kwon, the co-founder of Terraform Labs, is set for release from Spuž prison in Montenegro, with strict conditions preventing his departure from the country. Following a court order, Kwon's passport was confiscated, a measure aimed at ensuring he stayed within Montenegrin jurisdiction.
Prosecutors purportedly plan to confiscate the Terraform Labs co-founder's South Korean passport, though he allegedly used a forged Costa Rican passport in Montenegro in 2023.
Do Kwon, Terraform's co-founder, is to be released from prison in Montenegro but will in the country for now due to global criminal charges.
The cryptocurrency market has been on a roller coaster with prices rising and falling in equal measure. Bitcoin dropped from its all-time high and tested support at $60,500.
As the legal situation surrounding Do Kwon, CEO of Terraform Labs, evolves, his imminent return to South Korea raises questions about the next steps in the investigation.
Montenegro's Supreme Court has intervened in Do Kwon's extradition to South Korea, putting the process on hold indefinitely, according to a March 22 translation of the Court notice. The Court said it overturned previous decisions from two lower courts that had greenlit Kwon's extradition to South Korea because of the Supreme State Prosecutor's Office's request.
The Supreme Court of Montenegro is withholding the extradition of Do Kwon, co-founder of Terraform Labs, to South Korea. On March 22, the decision was made after an aspirant legality claimed that this procedure falls outside the remit of the lower courts.
TerraClassic has witnessed a remarkable uptick in its market performance, marking a significant increase over the previous month. In the recent week, LUNC's price movement has been somewhat unpredictable, alternating between upward and downward trends moving laterally in the market.
The Prosecutor General's Office of Montenegro says the decision to deport Terraform Labs founder Do Kwon to South Korea was illegal.
Do Kwon faces fraud charges in the United States and South Korea as authorities compete to extradite the Terraform Labs co-founder.
Montenegro's Supreme Court placed a pause on Terra founder Do Kwon's pending extradition from the Balkan country, issuing an order on Friday that overturns earlier decisions from two lower courts to extradite Kwon to his native South Korea.
Since the arrest of Do Kwon, both the United States and South Korea have submitted extradition requests, setting the stage for a legal war between the two countries.
