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Post: Kwon’s Release Amid Extradition Deliberations: Terra Luna Co-founder’s Legal Battle

Kwon’s Release Amid Extradition Deliberations: Terra Luna Co-founder’s Legal Battle

Key Points:

  • Kwon, co-founder of Terraform Labs, has been released from prison in Montenegro as the Supreme Court deliberates on extradition requests from the U.S. and South Korea.
  • The Supreme Court suspended a lower court’s ruling to extradite Kwon to South Korea where he faces fraud allegations related to the Terra Luna collapse.
  • The fraud allegations stem from a market value loss of approximately $60 billion in 2022.

Release of Kwon Amid Extradition Deliberations:

Do Kwon, the co-founder of Terraform Labs, has been released from prison in Montenegro while the Supreme Court considers extradition requests from the U.S. and South Korea. This decision came as a result of the Supreme Court’s intervention to suspend the extradition ruling by a lower court.

Fraud Allegations and Market Collapse:

Kwon is embroiled in fraud allegations in both South Korea and the U.S. connected to the Terra Luna collapse, which led to the staggering loss of about $60 billion in market value in 2022. These allegations are central to the extradition requests.

Prison Director’s Statement:

According to prison director Darko Vukcevic, Kwon’s release was confirmed, highlighting the complex legal situation Kwon finds himself in as the courts deliberate on his potential extradition.

Hot Take

Given the significant financial implications of the Terra Luna collapse and the multiple extradition requests, Kwon’s release amidst court deliberations reflects the intricate legal challenges he faces. The outcome of this case could have broad implications for the cryptocurrency industry.

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