According to a Friday report by Bloomberg, a United States jury found Terraform Labs and its co-founder Do Kwon liable for civil fraud over the crash of the Terra ecosystem in 2022.
Montenegrin Apex Court Reverses Do Kwon’s Extradition Order
In other news, the Supreme Court of Montenegro has overturned the extradition order of Do Kwon to South Korea by a lower court. This development came following a petition by the Supreme State Prosecutor’s Office of the Balkan nation which highlighted a breach of authority and procedural violations in the rejection of an appeal from Kwon’s legal team by an appellate court.
Following deliberations, the Montenegrin Apex Court has now ruled in favor of the Prosecutor’s Office and ordered a reevaluation of the extradition requests of the US and South Korea for the popular crypto figure.
Do Kwon was arrested in March 2023 by local Montenegrin authorities for traveling with falsified documents. Since then, the “highly wanted” Terraform co-founder has been the subject of an extradition contest between both countries who are pressing criminal charges over the crash of the Terra blockchain project.
Total crypto market cap valued at $2.449 trillion on the daily chart | Source: TOTAL chart on Tradingview.com
Featured image from Reuters, chart from Tradingview
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Author: Semilore Faleti
