Request

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 The Montenegro government has agreed to extradite Hang Chang-joon, the former CFO of Terraforms Labs and associate of Do Kwon, to South Korea for additional criminal proceedings related to investment fraud. Local authorities announced this decision<a style="color: #0000ff;" href="https://twitter.com/PravdaCG/status/1754440667693007046?t=RMgQ_Ayy_aciFn0WLC-mjg&amp;s=19" rel="noopener noreferrer nofollow"> in a post on X</a> on Monday, February 5, 2024.
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This move is the latest in the series of litigations related to the crash of the company which developed the Terra blockchain and popular stablecoin, TeraUSD. The crash resulted in a loss of about $40 billion in investments and impacted the worldwide cryptocurrency market with losses of about 400 billion.&nbsp;
Following the entity’s collapse, the hunt for Kwon and Chang-Joon, the former CEO and CFO, respectively, began. Both were in flight for months after escaping <a style="color: #0000ff;" href="https://defi-planet.com/2022/11/south-korean-government-accuse-do-kwon-of-manipulating-lunas-price/" rel="noopener noreferrer nofollow">South Korea</a> and <a style="color: #0000ff;" href="https://defi-planet.com/2022/10/do-kwon-flees-singapore-for-dubai-because-terra-investors-are-on-his-trail/" rel="noopener noreferrer nofollow">then Singapore</a> in anticipation of the firm’s collapse. However, they were caught in March last year while attempting to board a private jet headed for Dubai at the Podgorica airport.&nbsp;
The duo were arrested <a style="color: #0000ff;" href="https://defi-planet.com/2023/05/do-kwon-pleads-not-guilty-to-traveling-with-fake-documents-in-montenegro/" rel="noopener noreferrer nofollow">carrying false passports</a> and were subsequently charged with partaking in illicit activities and detained in Montenegro.&nbsp;
A month after their arrest, the <a style="color: #0000ff;" href="https://defi-planet.com/2023/04/do-kwon-accused-of-laundering-illicitly-obtained-luna-funds-via-bitcoin/" rel="noopener noreferrer nofollow">South Korean government found assets worth more than 414.5 billion won ($314.2 million)</a> in their possessions, of which 91.4 billion won ($69 million) was directly associated with Kwon.&nbsp;
Kwon, whose legal name is Kwon Do-hyun, is currently facing <a href="https://defi-planet.com/2023/02/us-sec-sues-terraform-labs-and-do-kwon-for-fraud/" rel="noopener noreferrer nofollow">criminal charges in the United States</a> and South Korea for crimes associated with the collapse of both LUNA crypto and TerraUSD (UST) stablecoin. He is in extradition custody in Montenegro and has requested a trial adjournment because of delays in the extradition process.&nbsp;
In late November 2023, Montenegrin authorities indicated that Do Kwon would be deported to either the United States or South Korea while awaiting a decision from the nation’s Minister of Justice.
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The post <a href="https://defi-planet.com/2024/02/montenegros-government-grants-extradition-request-for-former-terraform-labs-cfo-to-south-korea/" rel="noopener noreferrer nofollow">Montenegro’s Government Grants Extradition Request for Former Terraform Labs CFO to South Korea</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Montenegro’s Government Grants Extradition Request for Former Terraform Labs CFO to South Korea

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