Montenegro’s Ruling
Montenegro’s Supreme Court has overturned earlier decisions to extradite Do Kwon to South Korea. This reversal comes after the US successfully argued for Kwon’s extradition to face fraud charges related to the collapse of TerraUSD.
US Prosecution Efforts
The US has been pursuing Kwon’s extradition to prosecute him for fraud. A federal jury in New York found Kwon and his company, Terraform Labs, liable for defrauding investors in a $40 billion scheme.
Terraform Labs’ Response
Terraform Labs has expressed disappointment with the verdict and is considering an appeal. They argue that the SEC does not have the authority to classify their tokens as securities.
Montenegro’s Decision
Montenegro’s justice minister will ultimately decide where Kwon will be handed over, pending a review of the extradition conditions.
Impact on Terraform Labs
Terraform Labs’ Luna Classic token has seen a slight increase in value following the ruling. However, it has experienced significant losses in recent months.
