Terra co-founder Do Kwon is facing multiple charges including Securities Fraud and Inflicting Severe Harm on Investors in connection with the collapse of Terra. South Korea today requested urgent assistance from Interpol for Kwon’s extradition. Following these developments, according to the latest news, the Montenegrin Court decided to extradite Kwon to South Korea. This news pushed the prices of LUNA and LUNC, the tokens of the Terra ecosystem, north.
Do Kwon travels to South Korea, Terra tokens are up!
Terra co-founder Do Kwon is currently facing multiple charges, including securities fraud, in connection with the collapse of the Terra ecosystem in May 2022. In the first development today, the South Korean National Police Agency officially requested Interpol’s intervention in Do Kwon’s extradition case. According to the news following this development, the Montenegrin Court decided to extradite Kwon to South Korea. Following this news, the prices of LUNA and LUNC, the tokens of the Terra ecosystem, jumped from the red zone. LUNA jumped from $1.07, where it fell during the day, to $1.23. After this, although it loses some altitude, it continues in the green zone.
LUNC, the other token of the Terra ecosystem, also rose. Although the token could not reach the green zone, it partially compensated for its losses. LUNC jumped from $0.0001842 to $0.000197 intraday. It then shifted slightly south.
South Korea’s defense
South Korea’s police force took a proactive approach on March 7. In this context, he sent a written letter to the Interpol General Secretariat. The letter also included an electronic document requesting assistance in the extradition of Do Kwon, who faces securities fraud charges.
Problems in extradition of criminals
The Montenegrin court previously annulled the decision to extradite Do Kwon to the United States. Thus, a new mishap arose. In the decision taken upon the appeal of Kwon’s defense, the validity of the extradition decision was questioned. The defense argued that the court’s initial decision was influenced by misinformation regarding the order of extradition requests between the United States and South Korea.
Interpol issues red notice for Terra founder
Even before Kwon’s arrest in September 2022, South Korean authorities had requested Interpol to issue a “red notice.” cryptokoin.com We previously reported that Interpol had issued a Red Notice for the search and arrest of Do Kwon.
In March last year, Montenegrin police arrested Kwon at Podgorica airport. The arrest revealed fake passports, including Costa Rican and Belgian documents. Thereupon, Montenegrin police officially charged the former Terra CEO and an accomplice with alleged forgery. It also paved the way for the initiation of legal proceedings in a court in Podgorica.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!