Victory For Do Kwon? Montenegro’s Latest Ruling Reverses Extradition To South Korea
Montenegro's Supreme Court overturned earlier decisions to extradite disgraced crypto mogul Do Kwon to South Korea, bolstering US efforts to prosecute him for fraud related to the collapse of the TerraUSD stablecoin. The US seeks his extradition, while South Korea also pursues him. A federal jury in New York found Kwon and his company, Terraform Labs, liable for defrauding investors, resulting in a $40 billion loss of market value. Terraform Labs plans to evaluate legal options and potentially appeal the verdict. Kwon's fate remains uncertain pending the decision of Montenegro's justice minister. Terraform Labs' Luna token, now named Luna Classic (LUNC), is currently trading at $0.0001378, with a 1% increase in the past 24 hours and losses of up to 28% in the past 30 days.
