#cpi #bitcoinhalving # Montenegro Court Approves Do Kwon's Extradition:
What You Need to Know
## Background
The ongoing legal saga surrounding **Do Kwon**, often referred to as the *"cryptocurrency king,"* has taken yet another twist. Do Kwon, the founder of **Terraform Labs**, was arrested in Montenegro last year.
## The Extradition Process
1. **Initial Ruling**: In February 2024, the **Higher Court in Podgorica** approved the expedited extradition of Do Kwon to the U.S. following a request by federal prosecutors in New YorkĀ¹Ā². He was charged with fraud related to the **$40 billion crash** of Terraform Labs' cryptocurrency, which significantly impacted retail investors worldwide.
2. **Supreme Court Reversal**: However, the local **Supreme Court of Montenegro** later overturned this decision, rejecting the extradition to the U.S. and restarting the processāø. Instead, they favored South Korea's request for Do Kwon's extradition.
3. **Latest Development**: Now, Montenegro's **top court** has once again ruled in favor of the U.S., stating that Do Kwon should be extradited to face fraud charges there rather than returning to his native South Koreaā·. The final decision lies with Montenegro's **Justice Minister Andrej Milovic**.
## Terra's Implosion
Do Kwon and five others associated with Terraform Labs faced allegations of fraud and financial crimes related to the implosion of its digital currencies in **May 2022**. TerraUSD, designed as a *"stablecoin,"* suffered a drastic loss in market value, affecting holders worldwide. The stablecoin, along with its sister currency **Luna**, plummeted far below its $1 peg, causing significant lossesā“.
## What's Next?
While the legal battle continues, Do Kwon's fate remains uncertain. If extradited to the U.S., he could face up to **40 years in jail** for the charges against him. The extradition process is still subject to appeal, and the saga continues as Montenegro's courts deliberate on the matterā¹.
Source:Do Kwon's US Extradition Overturne
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