Terra Founder’s Extradition Approved by Montenegro Court: Do Kwon Faces Legal Troubles in South Korea and the United States

In a significant development with far-reaching implications, a court in Podgorica, the capital of Montenegro, has given the green light for the potential extradition of Terra founder Do Kwon to either South Korea or the United States. This decision follows Kwon’s arrest earlier this year in Montenegro, where he was apprehended for carrying falsified documents at Podgorica’s airport.

As the legal process unfolds, Kwon faces a web of charges and investigations in multiple countries, including fraud charges in the U.S. and an ongoing inquiry in South Korea related to the collapse of terraUSD. The extradition decision now rests in the hands of the Montenegrin Justice Minister after Kwon serves a four-month prison sentence for document forgery in Montenegro.

Terra Classic Sees Resurgence as Transaction Numbers and Staking Ratios Reach New Highs

In the world of blockchain and cryptocurrency, few stories have been as tumultuous and dramatic as that of Terra. Once a shining star, Terra faced a catastrophic multi-billion-dollar collapse in 2022, leading to a fractured community and the birth of two separate chains: Terra 2.0 and Terra Classic. Fast forward to the present, and both communities are tirelessly working to restore their ecosystems to their former glory.

In recent developments, the Terra Classic community has witnessed significant progress, with transaction numbers reaching an all-time high and the staking ratio surging once more. The Terra Classic Foundation, a driving force behind the revival of Terra Classic, recently shared an encouraging update. On November 22, 2023, the network experienced a historic milestone, recording an astounding 589,000 transactions in a single day.

See also  Binance Cuts Terra Classic (LUNC) Supply by 1.14B

Price Overview

Daily chart for LUNC/USDT (Source: TradingView) LUNC was able to escape a bearish descending triangle pattern over the past 48 hours. Subsequently, the altcoin’s value may begin to climb to the next major resistance level at $0.00007905 in the following few days. Thereafter, a break above this mark may give LUNC the foundation needed to rise to the subsequent threshold at $0.00008675 in the short term.

### News source: coinpaper.com

By Team