in May 2022 terra disappeared after the collapse Terraform founder Do Kwon He was arrested in Montenegro in March.
After his arrest, South Korean authorities demanded Do Kwon’s extradition.
Montenegrin prosecutors have prepared an indictment against Do Kwon, whose extradition process is still ongoing, alleging that he forged an official document.
Prosecutors claimed that the Terra founder forged his passport and other identity documents when he was caught boarding the plane to Dubai.
Experts said the Montenegrin prosecutor’s office could delay Kwon’s extradition due to allegations of fraud.
Because prosecutors demanded an extension of Do Kwon’s detention.
terra founder Do Kwon could face a prison sentence of three months to five years if found guilty of this fraudulent charge.
What Happened?
Terraform Labs’ algorithmic stablecoin TerraUSD (UST) The events that started with the loss of its stability to the dollar in May 2022, Terra’s (LUNA) nearly zero dollars and the Terra system crashed.
A lot of this collapse LUNA While the investor was negatively affected, it also triggered many events such as the bankruptcy of cryptocurrency lending protocol Celsius and cryptocurrency exchange FTX.
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