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Montenegrin authorities extradited crypto entrepreneur Do Kwon to the United States on Sunday to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022.
Do Kwon, the South Korean founder of Terraform Labs, has been extradited to the United States. Authorities in the country accused Do Kwon of orchestrating a multi-billion dollar crypto fraud following the collapse of his company's Terrausd and Luna cryptocurrencies in 2022. The collapse caused billions of dollars in losses across the market.
Disgraced Terraform Labs founder Do Kwon has officially been extradited to the United States to face criminal charges following the crash of the Terra Luna ecosystem, Montenegro Prime Minister Milojko Spajić confirmed Tuesday.
Do Kwon, the South Korean co-founder of Terraform Labs, was extradited from Montenegro to the US, ending months of legal proceedings over the matter, according to local media reports. Montenegrin police transferred Kwon to US authorities at Podgorica International Airport on Dec. 31.
After months of uncertainty, Terraform Labs co-founder and former CEO Do Kwon has finally been extradited to the United States from Montenegro. According to a report by Vijesti, the transfer from local authorities took place on December 31 at the Podgorica Airport border cross.
According to reports, Montenegro has completed the legal extradition process of Terraform Labs co-founder Do Kwon to the US. He is facing fraud charges linked to the $40 billion collapse of the TerraUSD stablecoin in 2022.
The Terraform Labs co-founder was arrested in Montenegro in 2023 for using falsified travel documents as the courts determined whether he would go to the US or South Korea.
The strong LUNC price rally experienced between August and early December has faded as most cryptocurrencies reversed. With the new year kicking off and the Terra Luna Classic burn rate continuing, will the LUNC token soar?
Terraform Labs co-founder Do Kwon had been held in Montenegro since his March 2023 arrest at Podgorica airport.
Montenegro extradited Terraform Labs co-founder Do Kwon to the U.S. on Tuesday, according to the Vijesti news outlet.
Do Kwon, the controversial co-founder of Terraform Labs, is officially on U.S. soil. After months of legal battles and international drama, Montenegro handed Kwon over to U.S. authorities on December 31.
The extradition followed 18 months of legal battles and a review by the Supreme Court.
Montenegro on Tuesday extradited Terraform Labs co-founder Do Kwon to the United States, the interior ministry said.
LUNC's next few days could be key, owing to these new price patterns on the charts.
Montenegro has denied South Korea's extradition request for Do Kwon, confirming the Terra Luna founder will be extradited to the US.
Do Kwon, co-founder of Terraform Labs, will soon face fraud charges in the United States after Montenegro approved his extradition.
Montenegro's Minister of Justice has decided to extradite Do Kwon, the founder of Terraform Labs, to the United States, bypassing South Korea's competing request.
In a decision that concludes a series of prolonged legal proceedings, Montenegro's Minister of Justice, Bojan Božović, has signed an order for the extradition of Terraform Labs co-founder Do Kwon to the United States.
Montenegro has agreed to Do Kwon extradition to the US after a lengthy legal battle over competing extradition requests from the US and South Korea.
Montenegro has approved Do Kwons extradition to the US, where the Terraform Labs founder will face fraud charges tied to the $40 billion collapse of LUNA and UST. Meanwhile, the LUNC community accelerates its burn efforts as Terraform Labs moves closer to liquidation.
Montenegro's Minister of Justice officially signed the order to have Terraform Labs co-founder Do Kwon handed over to U.S. authorities to face charges in New York. The decision to extradite Kwon to the US rather than his native South Korea comes after Montenegro's Constitutional Court dismissed the disgraced Terra founder's appeal.
Bitcoin holds above $96,000 while investors turn to AI and DeFi tokens for growth opportunities, and Bitget to burn 40% of total supply of BGB.
Montenegro's Minister of Justice, Bojan Božović, has signed an order to extradite Terraform Labs co-founder Do Kwon to the US. Montenegro's Supreme Court recently determined that all legal conditions for Kwon's extradition had been met.
Montenegro has approved the extradition of South Korean crypto entrepreneur Do Kwon to the U.S., concluding lengthy legal disputes over his role in the $60 billion collapse of the Terra-Luna blockchain. The post Montenegro Approves Do Kwon's Extradition to the US for Prosecution appeared first on Cryptonews.
