Court in Montenegro Decides That Terra Do Kwon’s Return to South Korea
Contributor
- Do Kwon has been extradited by both the United States and South Korea
- Do Kwon’s case expected to be expedited
Court Ruling Confirms Extradition of Do Kwon
The Court of Appeals of Montenegro has ruled that Do Kwon will be extradited to South Korea. The appeals court upheld the lower court’s decision, finding that the latter correctly ruled on the extradition request.
Impact on Cryptocurrency Industry
The collapse of LUNA was one of the biggest events in the cryptocurrency industry in recent years. LUNA was part of a larger ecosystem that included TerraUSD (UST), an algorithmic stablecoin designed to maintain its peg to the US dollar. However, the stablecoin mechanism failed catastrophically, causing LUNA to drop dramatically in value.
Unsurprisingly, South Korean judicial authorities are eager to bring Kwon home to face charges. This is a clear sign that they are determined to address all the consequences of the LUNA bust and ensure accountability.?>
