Do Kwon is in US custody after extradition battle

December 31, 2024 Coin Telegraph

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.

Montenegrin authorities handed over Terraform Labs co-founder Do Kwon to United States law enforcement officers after a months-long fight over where or whether he would be extradited.

In a Dec. 31 X post, Montenegrin Prime Minister Milojko Spajić said Kwon was in US custody, suggesting that he would soon be traveling to the United States to face criminal charges.

The handover happened four days after Montenegrin Justice Minister Bojan Božović approved the Terraform co-founder’s extradition to the US instead of accepting a petition from South Korea, where Kwon also faces charges and holds citizenship.

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Do Kwon Set To Be Extradited to the US After Losing Appeal in Montenegrin Constitutional Court: Report

December 27, 2024 The Daily Hodl

Altcoins

Disgraced Terra (LUNA) founder Do Kwon is reportedly going to be extradited to the US after losing an appeal in a Montenegrin high court. According to a new report by France 24, Kwon – the person suspected of being behind the multibillion-dollar downfall of the Terra ecosystem in 2022 – had his appeal thrown out […]

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Cryptography Expert Calls for Regulatory Reboot, Says ‘Orange Grove’ Laws Don’t Apply to Crypto

Report: Montenegro Agrees to Extradite Terraform Labs’ Do Kwon to the US

December 27, 2024 Bitcoin.com

bitcoin.com

Montenegro has greenlit the extradition of Terraform Labs co-founder Do Kwon to the United States, possibly settling a tug-of-war between the U.S. and South Korea, according to Bloomberg. Do Kwon’s U.S. Extradition Approved Amid Fraud Charges Montenegro’s Justice Ministry made the announcement, highlighting that “most criteria envisaged by the law are in favor of the […]

Cryptography Expert Calls for Regulatory Reboot, Says ‘Orange Grove’ Laws Don’t Apply to Crypto

SEC nets record $8.2B from enforcement, mostly from Terraform Labs

November 25, 2024 Coin Telegraph

SEC nets record .2B from enforcement, mostly from Terraform Labs

Coin Telegraph

Terraform Labs’ near $4.5 billion settlement with the SEC has contributed to a record year for the agency’s financial penalties.

The United States Securities and Exchange Commission hit a new record for penalties and fines from its enforcement actions in the fiscal year 2024 — due mainly to a massive settlement with crypto firm Terraform Labs.

The agency net $8.2 billion in financial remedies for the year ending Sept. 30 — “the highest amount in SEC history,” it said in its Nov. 22 annual report — despite the number of cases declining 26% from last year to 583.

Over half of the total came from the SEC’s court win against Terraform and former CEO Do Kwon, who paid a $4.47 billion settlement after being found liable for fraud over its blockchain ecosystem’s collapse in 2022 that wiped billions of dollars.

Cryptography Expert Calls for Regulatory Reboot, Says ‘Orange Grove’ Laws Don’t Apply to Crypto

Avalanche buys back $53M of AVAX tokens from Terra’s LFG

November 7, 2024 Coin Telegraph

Avalanche buys back M of AVAX tokens from Terra’s LFG

Algorithmic stablecoin

The AVAX tokens were purchased for $100 million a month before the infamous Terra Luna collapse.

The Avalanche Foundation completed the repurchase of 1.97 million AVAX tokens from the now-defunct Luna Foundation Guard (LFG), which had acquired them to support the Terra blockchain ecosystem.

In an announcement sent to Cointelegraph, the Avalanche Foundation said it had completed the token buyback process.

While Avalanche’s filing said it would purchase the tokens at $45.5 million, the Avalanche (AVAX) token traded at $26.95 at the time of writing, making 1.97 million tokens worth about $53 million at current market prices.

Cryptography Expert Calls for Regulatory Reboot, Says ‘Orange Grove’ Laws Don’t Apply to Crypto

Montenegro halts Do Kwon’s extradition again ahead of appeal ruling

October 18, 2024 Coin Telegraph

Bitcoin

Do Kwon’s extradition has been delayed again, to the surprise of the Justice Ministry.

The Constitutional Court of Montenegro suspended the extradition of former Terraform Labs founder and CEO Do Kwon on Oct. 18, according to local press reports. A day earlier, the Montenegrin Justice Ministry had said a decision on Kwon’s extradition had been made and it promised to make the decision public on Oct. 20.

The decision on Kwon’s extradition, including Kwon’s destination, was entrusted to the Justice Ministry by the Supreme Court in September. Both the United States and South Korea have requested his extradition.

The Constitutional Court had not informed the ministry of the suspension of that judgment until the last minute, the ministry said, adding:

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Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy

September 19, 2024 Bitcoin.com

Bankruptcy

Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors facing significant losses after the Terra ecosystem collapsed. Court Approves Terraform Labs Wind-Down Terraform Labs has been granted […]

Cryptography Expert Calls for Regulatory Reboot, Says ‘Orange Grove’ Laws Don’t Apply to Crypto

Terraform wallet moves $62M BTC as Do Kwon remains in legal limbo

September 3, 2024 Coin Telegraph

Terraform wallet moves M BTC as Do Kwon remains in legal limbo

Bitcoin Wallet

Awaiting extradition to either the US or South Korea, Do Kwon could have had access to the Terraform Labs wallet containing more than 1,075 BTC.

A wallet reportedly associated with Terraform Labs and one of its co-founders, Do Kwon, has moved $62 million worth of Bitcoin to a different address.

According to data from blockchain analytics firm Arkham Intelligence, on Sept. 2, Terraform moved more than 1,075 Bitcoin (BTC) — roughly $62 million at the time of publication — from one of its wallets. It’s unclear if Kwon, currently awaiting extradition from Montenegro, was responsible for the transfer.

The Terra ecosystem collapsed in 2022, with authorities from the United States and South Korea filing charges against Kwon and some of his associates for their alleged role in the platform’s downfall. In 2023, Kwon was arrested in Montenegro on unrelated charges and sentenced to four months in prison.

Cryptography Expert Calls for Regulatory Reboot, Says ‘Orange Grove’ Laws Don’t Apply to Crypto

Three Arrows Capital Liquidators Want $1,300,000,000 From TerraForm Labs Over 2022 LUNA Collapse: Report

August 14, 2024 The Daily Hodl

Three Arrows Capital Liquidators Want ,300,000,000 From TerraForm Labs Over 2022 LUNA Collapse: Report

Daily Hodl

Liquidators of the failed crypto hedge fund Three Arrows Capital (3AC) are reportedly seeking $1.3 billion from Terraform Labs, the bankrupt stablecoin firm co-founded by Do Kwon. According to a new report by Bloomberg, the liquidators filed a claim in the U.S Bankruptcy Court for the District of Delaware seeking funds 3AC allegedly lost as […]

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Cryptography Expert Calls for Regulatory Reboot, Says ‘Orange Grove’ Laws Don’t Apply to Crypto

Montenegrin Supreme Court Pauses Do Kwon Extradition to South Korea: Report

August 8, 2024 The Daily Hodl

Daily Hodl

The Supreme Court of the southeastern European nation of Montenegro is again postponing Terra (LUNA) co-founder Do Kwon’s extradition to South Korea. According to a report from Montenegrin news outlet Vijesti, Montenegro’s Supreme Court has halted the extradition due to a request for “protection of legality” brought forth by Kwon’s camp. According to a statement […]

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Do Kwon

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