The appeals court in Montenegro will not overturn an earlier decision approving the extradition of Do Kwon to South Korea. Thus, he will extradite Do Kwon to South Korea to face criminal charges related to the collapse of the Terra ecosystem. Meanwhile, the number of LUNC and USTC holders reached a new milestone of 5.5 million.
The Montenegrin Court made its final decision on the extradition of the founder of Terra!
An appeals court in Montenegro has rejected Terra founder Do Kwon’s bid to annul a decision approving his extradition to South Korea. Because the US Department of Justice also wanted Do Kwon’s extradition. He said he would appeal Montenegro’s decision to send him to South Korea. Kwon’s lawyer said Wednesday’s decision is final. He also added that there is no timeline for a refund.
Earlier this month, a high court in the Balkan country ruled that Kwon could be extradited to South Korea in May 2022 to face criminal charges related to the collapse of his multi-billion dollar crypto startup. Wednesday’s decision indicates that Kwon’s appeal of that decision was unsuccessful. Do Kwon’s lawyer, Goran Rodic, said the extradition is now final. Therefore, neither the United States nor Kwon could appeal the decision further, he said.
The number of LUNC and USTC holders reached a record level
Terra Classic reached a new milestone as the number of LUNC and USTC holders reached 5.5 million. The rate of increase is relatively low compared to after the Terra Luna crisis in 2022. However, the number of wallets holding Terra Luna Classic ecosystem tokens continues to grow, primarily thanks to the support of Binance and other crypto exchanges.
Terra Classic accounts are higher than even top cryptocurrencies like Cardano and Shiba Inu. According to recent reports, the total number of wallets on the Cardano network has exceeded 4.6 million. Additionally, according to Etherscan and ShibariumScan data, the number of Shiba Inu owners reached 1.38 million. While wallet numbers for top cryptocurrencies continue to rise due to increased crypto adoption, Terra Luna Classic wallet numbers indicate that people are still holding onto their LUNC and USTC in hopes of prices rebounding during the bull market.
The Terra Luna Classic burn campaign, supported by crypto exchange Binance, increased LUNC prices. Binance has burned a total of 53.48 billion LUNC tokens to date. Other crypto exchanges and projects are also supporting the community in reducing token supply. That’s why they also burn LUNC. Recently, WEEX has committed to burning LUNC with transaction fees on spot and futures pairs.
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