$BTC $USDC $SOL Do Kwon Face Extradition to South Korea Instead of the US✅My brother, we copied from 💸$100 to 💵$200 and above in order to extract the best investment, my brother.💸💸💸
As determined by a Montenegrin appeals court, Do Kwon, the co-founder of the now-bankrupt Terraform Labs, will be deported to South Korea, not the United States.
This decision comes after intense legal scrutiny and highlights the ongoing saga surrounding the dramatic $40 billion Terra/LUNA ecosystem collapse in May 2022.
Legal proceedings in Montenegro
The Appellate Court of Montenegro upheld a previous decision by the High Court of Podgorica, opting to extradite Kwon to South Korea. This ruling overrides the competing extradition request from the United States, where authorities are also keen to press charges.
Source: X
Kwon, embroiled in legal troubles since the Terra/LUNA fallout, was arrested in Montenegro in March 2023 for attempting to travel to Dubai with a forged Costa Rican passport. After serving a brief prison sentence for using forged documents, he was released on bail, with conditions to prevent further flight.
Terraform Labs’ controversial collapse
The controversy began with the failure of TerraUSD, a supposed stablecoin pegged to stable assets like the U.S. dollar, which aimed to mitigate cryptocurrency volatility. However, its collapse triggered a series of bankruptcies within the crypto sector, notably affecting FTX, another major crypto exchange.
Kwon, who had relocated to Singapore citing safety concerns for his family before the crash, faced accusations alongside five other Terraform officials. They were charged with fraud and financial crimes linked to the debacle. Despite these allegations, Kwon maintained in his initial interviews post-collapse that he did not foresee catastrophic failures, stating his responsibility for any exploitable weaknesses in the system.
Settlements and Legal Battles in the United States
#July_NonFarmPayrolls_Shock #US_Job_Market_Slowdown #BinanceHODLerBANANA #Babylon_Mainnet_Launch #BinanceTurns7
