Terra Classic

<ul><li>Last week, he was detained at the airport in the country’s capital. Podgorica.</li><li>The fugitive would certainly be extradited to the United States or South Korea.</li></ul>According to reports, Terraform Labs co-founder and defendant <a href="https://en.wikipedia.org/wiki/Do_Kwon" rel="noopener noreferrer nofollow">Do Kwon</a> will file an appeal against the court’s decision to prolong his custody by up to a month in Montenegro. The 31-year-old developer apparently went into hiding for a while when the project’s native token, LUNA, and its algorithmic <a href="https://thenewscrypto.com/tag/stablecoin/" rel="noopener noreferrer nofollow">stablecoin</a>, UST, failed and brought down the whole ecosystem.Last week, he was detained by Montenegrin officials at the airport in the country’s capital, <a href="https://en.wikipedia.org/wiki/Podgorica" rel="noopener noreferrer nofollow">Podgorica</a>. While Kwon is likely to be tried and sentenced in the United States, his exact date of extradition has not been determined. According to reports out of the area, Kwon’s legal team plans to challenge the decision by a court in Montenegro to prolong his detention for up to another 30 days.<h3 id="extended-from-standard-72-hours">Extended From Standard 72 Hours</h3>As Kwon is a foreigner who is likely to flee, the Balkan country accepted the prosecutor’s plea to extend the duration of the case from the standard 72 hours. Since Terra’s collapse left many investors broke, the South Korean fled the country at some point last year.He reportedly went into hiding in a number of different countries, including Dubai, Singapore, Mauritius, and Seychelles. The most recent information pointed to Serbia, Montenegro’s eastern neighbor, as a possible place of residence.U.S. authorities quickly identified Kwon as the primary perpetrator in the Terra debacle and filed charges against him for securities fraud, commodities fraud, and conspiracy upon his detention.The fugitive would certainly be extradited to the United States or South Korea, according to law experts. If he returns to the United States, he may be prosecuted by the same department handling the case against ex-<a href="https://thenewscrypto.com/tag/ftx/" rel="noopener noreferrer nofollow">FTX</a> CEO Sam Bankman-Fried.

Terraform Labs’ Do Kwon to Appeal Against Extension of Custody

विषयसूची

TheNewsCrypto

27 मार्च 2023 को प्रकाशित अन्य लेख

Crypto Exchange Zipmex's Rescue Plan in Jeopardy

We’re listing $NMR as a collateral asset type on March 29th

Bitget Partners With Space-Time for Centralized Exchange Entry

CARV TALK Vol2 Recap: Are NFTs Dead? Why NFTs Will Shape the Future of Gaming!

MicroStrategy Repaid its $205M Debt to a Collapsed Bank With a 21% Discount

Revolutionizing Crypto Trading with Satoshi Bot: The Pros and Cons

रोजाना क्रिप्टो अपडेट पाने के लिए हमारे मुफ्त न्यूजलेटर से जुड़ें!