Kwon’s Terra Collapse Former Terraform Labs CEO Do Kwon is facing criminal charges in the United States after his extradition from Montenegro. U.S. prosecutors estimate that the collapse of the Terra ecosystem. Which included the TerraUSD stablecoin and Luna cryptocurrency, affected more than one million individuals and entities globally in
As the Asian world wakes up to Bitcoin reclaiming the $97K mark, other altcoins have also traveled further in the bullish trend. In the past day, in an interesting turn of events, AI tokens took to the spotlight, with market cap surging past $100 billion. Meanwhile, TerraForm Labs’ former CEO,
Do Kwon, co-founder of Terraform Labs, was previously granted an additional legal avenue when the Constitutional Court of Montenegro allegedly rejected an appeal by the Korean cryptocurrency tycoon over his extradition. Korea JoongAng Daily reports that the court’s unanimous verdict essentially upheld an earlier finding supporting Kwon’s extradition. By citing
The legal saga of Do Kwon, the co-founder of Terraform Labs, is nearing a major turning point. Montenegro’s Justice Minister, Bojan Božović, has confirmed that a decision regarding Kwon’s extradition is expected by the end of this week, Oct 19. Do Kwon has been held in Montenegro custody since March
Terraform Labs has received the green light from a U.S. bankruptcy court to begin winding down its operations following the resolution of a prolonged legal case with the U.S. Securities and Exchange Commission (SEC), according to reports from September 19. The U.S. Bankruptcy Judge Brendan Shannon approved Terraform’s bankruptcy plan,
Terraform Labs’ co-founder, Do Kwon, is about to be extradited to South Korea. A chain reaction of court disputes and opposing extradition demands from the US and South Korea led to this latest turn of events. Now that the Montenegro Appellate Court has given its verdict, Kwon may go back
A major legal victory has been achieved by the spouse of Do Kwon, founder of Terraform Labs, against the government of South Korea. She was permitted to keep her substantial real estate assets. That had been frozen as part of the inquiry into the Terra-Luna collapse after a Seoul court
Terraform Labs has reached a $4.47 billion settlement with the U.S SEC, ending the allegations brought against it. Reuters was the first to report the settlement, which will make it the second high-profile case in the cryptocurrency industry to pay a settlement of more than $4 billion. As part of
The Luna Foundation Guard (LFG) address had a fund transfer of a substantial amount of digital assets. Around 1.974 million AVAX, approximately worth $71.2 million, and 39,499 BNB worth $23.5 million, were moved to an unknown address. Additionally, an insignificant amount of transfers were also recorded on the platform, as
Terraform Labs, led by Do Kwon that created the defunct LUNA cryptocurrency and the stablecoin TerraUSD (UST), has reached a preliminary settlement agreement with the SEC over fraud charges. Reuters broke the news of the settlement’s preliminary terms. All parties have notified the court of an agreement, according to the
