Montenegro court rejects appeal for review of Terraform Labs co-founder and main suspect in digital currency collapse. Minister of Justice to decide on extradition. SEC settles with Terraform Labs and Kwon for $4.5 billion.
The Constitutional Court of Montenegro rejected the appeal for review of two individuals, the co-founder of Terraform Labs and the main suspect in the collapse of the digital currency Terra Luna. This decision was made while Kwon, who was arrested in Montenegro in March 2023 for using a fake passport, faces extradition requests from the United States and South Korea. The Minister of Justice of Montenegro now has to make a final decision regarding Kwon’s extradition to one of these two countries. This comes as the U.S. Securities and Exchange Commission (SEC) recently signed a $4.5 billion settlement agreement with Terraform Labs and Kwon to resolve allegations related to the collapse of the digital currencies TerraUSD and Luna.
