Do Kwonโs Extradition Appeal Rejected: Whatโs Next?
Montenegroโs Constitutional Court has rejected Do Kwonโs appeal against his extradition, paving the way for his transfer to either the US or South Korea. Hereโs what you need to know:
Key Points:
1. Appeal Rejected:
The court unanimously dismissed Kwonโs appeal, citing legal flaws.
This upholds a previous ruling supporting extradition.
2. Extradition Likely to the US:
The final decision rests with Montenegroโs justice minister.
Reports suggest the US is the favored destination, reflecting the ministryโs position.
3. Terraformโs $40 Billion Collapse:
In May 2022, the crash of
#TerraUSD and Luna coins wiped out $40 billion.
It sparked the infamous 2022 "crypto winter," exposing flaws in platforms like
#FTX and Celsius.
4. Global Ripple Effect:
Kwonโs arrest in 2023 with a fake passport highlights rising cross-border action on crypto crimes.
The case could set a global precedent for regulation.
Financial Fallout & Political Ties
Terraform Labs settled with the SEC for $4.47 billion in June 2024, with Kwon personally fined over $200 million.
Allegations of Kwonโs political connections in Montenegro, particularly support for the Europe Now party, have stirred controversy.
Whatโs Next?
The decision now lies with Montenegroโs justice minister. Whether extradited to the US or South Korea, Kwonโs case underscores the growing demand for accountability in crypto.
$LUNA My Insights
If you were an investor in the previous Bull Run cycle you already know what I'm talking about, but for new Investors and Traders, be a little cautious of projects like these and people behind them.
For example: The Indian Crypto Exchange WazirX, I did warn a few about the cold relationship of Binance with Wazirx and made sure the ones who listened either swap them for other tokens like
#BasicAttentionToken . And exactly after a very few weeks Binance announcement of delisting WRX Token happened.
#LUNAUpdate How do you think this case will impact crypto regulations? Letโs discuss! Also let me know if you need a content about which solid projects to keep an eye on before it's too late.