Terra
Montenegrin Supreme Court Postpones Terra Founder Do Kwon’s South Korean Extradition
The Supreme Court of Montenegro is postponing the extradition of disgraced Terra (LUNA) founder Do Kwon to South Korea. According to a new memo, the Supreme Court of Montenegro is overturning a previous ruling that greenlit the extradition process to send Kwon back to his homeland of South Korea where he is wanted for alleged […]
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Do Kwon Will Be Extradited to United States Following Montenegro Court Ruling: Report
Do Kwon, former crypto billionaire and founder of the Terra (LUNA) ecosystem, will be sent to the United States to face fraud charges. In 2022, Terra’s UST stablecoin and its associated altcoin LUNA went to virtually zero after its pegging mechanism didn’t work as intended, wiping out roughly $40 billion in value within days. Kwon […]
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Montenegro’s Appellate Court Revokes Terra (LUNA) Founder Do Kwon’s Extradition to the US, Orders a Retrial
An appellate court in Montenegro is revoking the extradition of disgraced Terra (LUNA) founder Do Kwon to the US and has ordered a retrial. According to a new press release, an appeals court yesterday overturned the decision of the high court made late last year, which ruled that Kwon is to be extradited to both […]
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Terraform Labs Founder Do Kwon Asks US Judge To Postpone SEC Trial Amid Extradition Delays: Report
Disgraced Terraform Labs founder Do Kwon is reportedly asking a judge to delay the U.S. Securities and Exchange Commission’s (SEC) trial to March so he can make an appearance. In a new letter addressed to the court uncovered by Inner City Press, Kwon’s lawyers ask District Judge Jed S. Rakoff to postpone the trial until […]
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US Judge Says Terraform Labs and the Disgraced Crypto Project’s Founder Do Kwon Sold Unregistered Securities
A US judge has ruled that collapsed crypto company Terraform Labs and its founder Do Kwon offered and sold two digital assets as unregistered securities. The U.S. Securities and Exchange Commission (SEC) and Terraform Labs both requested summary judgment in an ongoing fraud case. The SEC alleges the company and Kwon facilitated a multi-billion dollar […]
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Montenegrin Court Overturns Decision To Extradite Terra Do Kwon to the US
The founder of Terraform Labs, the crypto firm behind the Terra (LUNA) collapse has won an appeal in Montenegro over being extradited to the United States. According to a statement from the Montenegro Appeals Court, the decision to extradite Terra founder Do Kwon to the US or South Korea has been overturned. Kwon was initially arrested […]
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Do Kwon Must Stay Two More Months in Montenegro as Authorities Extend Custody Period: Report
Terra (LUNA) founder Do Kwon is staying in Montenegrin custody for at least two more months at the request of the United States and South Korea. According to a new Bloomberg report, Terraform Labs co-founder Do Kwon will be held in Montenegro for two more months as officials from the US and Korea seek charges related […]
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Terra co-founder Do Kwon will stay in Montenegro until February: Report
The Terraform Labs co-founder had been awaiting extradition to either the U.S. or South Korea after a prison sentence in Montenegro for using falsified travel documents.
Terraform Labs co-founder Do Kwon, expected to be extradited to the United States to face criminal charges, will reportedly stay in Montenegrin custody until February.
According to a Dec. 12 Bloomberg report, authorities with the U.S. and South Korea requested Montenegrin officials hold Kwon for an additional two months following the conclusion of his prison sentence. The Terraform Labs co-founder was arrested in Montenegro in March for using falsified travel documents and sentenced to four months behind bars.
Kwon, a South Korean national formerly based in Singapore, has been charged in the U.S. and South Korea for his alleged role in the collapse of Terra. The Wall Street Journal reported on Dec. 7 that the U.S. would be taking custody of Kwon before South Korea. Both countries have extradition requests pending at the time of publication.
CZ must stay, Do Kwon to be extradited: Law Decoded
A Seattle district court ruled out CZ’s departure to the UAE, and the Montenegrin justice minister plans to grant the United States request for Do Kwon’s extradition.
Binance founder Changpeng “CZ” Zhao has been ordered to stay in the United States until his sentencing in February 2024, with a federal judge determining there’s too much of a flight risk if the former exchange CEO is allowed to return to the United Arab Emirates. Seattle district court Judge Richard Jones wrote in his order:
“The defendant has enormous wealth and property abroad, and no ties to the United States [...] His family resides in the UAE and it appears that he has favored status in the UAE. Under these circumstances, the Court finds that the defendant has not established by clear and convincing evidence that he is not likely to flee if he returns to the UAE.”
Jones accepted Zhao’s guilty plea to one count of Bank Secrecy Act violations, which the Binance founder submitted over two weeks ago on Nov. 21 alongside a $4.3 billion settlement with U.S. agencies. Now, the ex-CEO of Binance faces up to 18 months in prison.