Court Overturns Extradition Order for Do Kwon
A court in Montenegro has reversed the extradition order for Do Kwon, co-founder of Terraform Labs, to the United States or South Korea. The decision was made by the Appeals Court in Podgorica, citing procedural irregularities and lack of clarity. This comes after an appeal filed by Kwon’s defense, which sent the case back to the Supreme Court for reconsideration.
Uncertainty Surrounding Do Kwon’s Extradition
The appellate court’s ruling adds more uncertainty to the extradition of Do Kwon. Last week, authorities extended his extradition detention until mid-February to decide whether he should be extradited to the United States or South Korea. The final decision lies with Montenegro’s justice minister, as both countries have indicted him for charges related to the collapse of TerraUSD.
Do Kwon appealed against the extradition approval just two weeks after the High Court’s initial ruling. He firmly opposed the court’s decision and stated that he does not accept it.
In March, Do Kwon and Han Chang-Joon were detained at Podgorica airport while trying to board a flight to Dubai. Do Kwon was charged with forging official documents. Throughout the trial, he expressed a preference for being extradited to South Korea.
LUNC Token Surges Amid Legal Developments
The ongoing legal developments surrounding Do Kwon have had an impact on the LUNA Classic token (LUNC), which has seen a 13% surge recently. LUNC is the original Terra LUNA coin that emerged after the collapse of UST/Luna and the establishment of a new Terra Chain.
Following news of potential extradition approval for Do Kwon, LUNC experienced a significant decline on December 4. However, it has since rebounded and is currently trading at $0.00016717.
Uncertain Future for Do Kwon and LUNC
The outcome of Do Kwon’s case remains uncertain, and its impact on the price of LUNC is yet to be seen. The resolution of this legal matter is likely to affect the future trend of the token in the coming months.
Featured image from the BBC, chart from TradingView.com
Hot Take: Uncertainty Surrounds Do Kwon’s Extradition and Impact on LUNC Token
The court in Montenegro has overturned the extradition order for Do Kwon, co-founder of Terraform Labs. This decision adds more uncertainty to his extradition process. The final decision on his destination rests with Montenegro’s justice minister, considering the charges from both countries involved. Meanwhile, the ongoing legal developments have affected the LUNA Classic token (LUNC), which experienced a significant surge recently. However, the future of Do Kwon’s case remains uncertain, leaving questions about how it will impact the price of LUNC in the long run.
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