ChainCatcher news, according to Cryptoslate, Montenegrin Justice Minister Bojan Božović confirmed that a decision has been made regarding the extradition of Terraform Labs co-founder Do Kwon, with the extradition agreement set to be signed before the end of this week. This decision comes after a lengthy and controversial legal process lasting several months. Božović did not provide further comments on the details of the case, nor did he disclose where Kwon would be extradited. He stated, "As the Minister of Justice, I have no other comments beyond what the Supreme Court has already ruled."Do Kwon's legal troubles in Montenegro began in March 2023 when he and Terraform CFO Han Chang-joon were arrested at Podgorica Airport for attempting to use forged documents. The two were sentenced to prison in Montenegro but remain the focus of international extradition requests as they contest allegations regarding their roles in the 2022 TerraLUNA collapse, which resulted in over $40 billion in losses. Han Chang-joon will be extradited back to South Korea after serving his sentence in early 2024.

ChainCatcher news, according to Protos, Terra founder Do Kwon was arrested in Montenegro on March 23, 2023, but his electronic devices were not handed over to the investigating judge until June of that year.An official from the Montenegrin special police told Portal ETV that during a search of inmates, including Do Kwon, laptops, mobile phones, cryptocurrency wallet login information, and "other codes to access the blockchain" were discovered.Two sources stated that at least three cryptocurrency transactions were made using Do Kwon's cryptocurrency wallet during his detention. This information was obtained through accounts related to a mobile phone company in Podgorica.

ChainCatcher news, according to Decrypt, South Korean financial regulators have issued a stern warning, stating that a life sentence will be imposed for cryptocurrency fraud cases that profit over $4 million (approximately 5 billion won). This warning was issued following the enactment of the South Korean "Virtual Asset User Protection Act" in July 2024, which aims to prevent cryptocurrency crimes, partly inspired by the events involving Terra/Luna founder Do Kwon and the collapse of the FTX exchange.In addition, the new law stipulates other penalties, including fines of 3 to 5 times the illegal profits, as well as a maximum of one year of imprisonment.

According to ChainCatcher news, local media Vijesti recently reported that former Montenegrin Minister of Justice Andrej Milović expressed concerns about the potential connection between the extradition of Terraform Labs co-founder Do Kwon and the airport concession agreements in Montenegro and South Korea.Milović argued that Spajić initially supported the transfer of Kwon to France but changed his position after the appellate court ruled that Kwon should be extradited to South Korea. He further pointed out that Spajić has a personal connection to the case and cited reports of Spajić investing $75,000 in the Terra/Luna tokens, directly linking him to Kwon's bankrupt crypto project. Milović warned that extraditing Kwon to South Korea would hinder a comprehensive investigation into the matter and called on the U.S. to pressure Spajić to cooperate with a broader investigation.

ChainCatcher news, the Montenegrin Ministry of Justice can decide whether to extradite Terraform Labs co-founder Do Kwon to the United States or South Korea after a decision is made by the country's Supreme Court. The Montenegrin Supreme Court stated in a notice on September 20 that Kwon's case has been submitted to the Minister of Justice after ruling on the request for protection of legality. According to the High Court, both South Korea and the United States meet the conditions for requesting extradition from Montenegro to face criminal charges.

ChainCatcher news, according to Reuters, Terraform Labs received approval from a U.S. bankruptcy court on Thursday to begin liquidation. U.S. Bankruptcy Judge Brendan Shannon approved Terraform's bankruptcy plan during a hearing in Wilmington, Delaware, stating it was a "popular alternative" to continue litigation for investor losses. Terraform estimates that as part of the bankruptcy liquidation, it will be able to pay between $184.5 million and $442.2 million to cryptocurrency investors and other stakeholders.Previous news, according to the official announcement from Terra, the confirmation hearing for the Chapter 11 bankruptcy reorganization plan of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) is scheduled for September 19, 2024, at 10 AM Eastern Time (10 PM Beijing Time).

ChainCatcher news, according to the acting president of the Supreme Court of Montenegro, it is expected that the Supreme Court will decide by the end of this month whether the ruling on the extradition case of Do Kwon violates the law.Vesna Vučković stated that the Supreme Court will make a decision on the "request for protection of legality" submitted by the Supreme State Prosecutor. The prosecutor believes that there are multiple illegalities in the final rulings of the High Court and the Court of Appeals regarding the extradition of cryptocurrency founder Do Kwon.

ChainCatcher news, according to the Montenegrin daily Vijesti, the Supreme Court of Montenegro has suspended the procedure to extradite Do Kwon to South Korea. This decision was made after the Supreme State Prosecutor's Office appealed the legality of the previous court ruling that approved his extradition. The suspension will put the extradition process on hold while the Supreme Court reviews the case.This extradition case involves multiple legal inconsistencies, with the court having previously made several rulings regarding Do Kwon's extradition to both the United States and South Korea. Do Kwon is accused of orchestrating a $40 billion fraud scheme through the Luna and Terra cryptocurrencies and was arrested in March 2023, after which he has been awaiting extradition. Do Kwon's lawyers have criticized the handling of the case, pointing out the existence of multiple judicial rulings and emphasizing that the appellate court's consistent legal reasoning is a positive exception. The case has attracted significant attention due to its legal complexities and political implications in Montenegro.

ChainCatcher news, according to the Montenegrin daily Vijesti, the Supreme Court panel of Montenegro will decide by this weekend whether to postpone the extradition of Terraform Labs co-founder Do Kwon to South Korea. The Office of the National Prosecutor of Montenegro has requested the Supreme Court to review the legality of the ruling made by the Montenegrin Court of Appeals and proposed to delay the execution of that ruling. The prosecutor's office believes that the ruling of the Court of Appeals violates the Law on International Legal Assistance in Criminal Matters.Previous news, according to Bloomberg, the Montenegrin Court of Appeals upheld the ruling that Terraform Labs Pte. co-founder Do Kwon should be sent back to his home country of South Korea, thereby rejecting the suggestion to extradite him to the United States.

ChainCatcher news, according to Bloomberg, the Montenegrin Appeals Court upheld the ruling that Terraform Labs Pte. co-founder Do Kwon should be extradited back to his home country of South Korea, thus rejecting the suggestion to extradite him to the United States.Thursday's ruling is the latest in a series of decisions from Montenegro, which has been facing dual requests from the U.S. and South Korea for the extradition of the notorious former cryptocurrency mogul. The Podgorica court stated on its website on Thursday that no one has appealed the ruling.The ruling also upheld a fast-track extradition procedure previously issued by another Montenegrin court. After the ruling was announced, Do Kwon's lawyer Goran Rodic responded to Bloomberg, stating that Montenegro would arrange the extradition with the assistance of Interpol and expressed hope that the extradition could be completed "as soon as possible."

ChainCatcher news, according to the Korea Economic Daily, the wife of Terraform Labs founder Do Kwon has won all appeals against the South Korean government's decision to confiscate her real estate shares and sell her apartment rights. Terraform Labs is the company behind the bankrupt stablecoin TerraUSD and the cryptocurrency Luna. The court ruled that these disputed assets were properties she purchased in her own name during her marriage to Kwon.

ChainCatcher news, according to Cointelegraph, a court document submitted by the U.S. Securities and Exchange Commission (SEC) reveals that Montenegro's Prime Minister Milojko Spajic, who took office in October last year, was one of the early investors in Terra. He invested $75,000 in Singapore's Terraform Labs in April 2018, purchasing 750,000 LUNA.Before the court document was made public, the Prime Minister of Montenegro claimed that he had never personally invested in failed cryptocurrency projects. The Prime Minister stated that the company he worked for was scammed out of $75,000, rather than him personally.

ChainCatcher news, according to Yonhap News Agency, there is evidence that Do Kwon, the founder of Terraform Labs, and Daniel Shin, the CEO of Chai, intended to deceive investors since the establishment of Terraform Labs.Records of conversations between Kwon and Shin show that Kwon told Shin, "I can create fake transactions that look real. Once we grow bigger, you can reduce (the fake transactions), and I won't be able to identify them."Shin responded, "Let's experiment on a small scale first and see how it goes."These conversation records have been submitted to the court as evidence by the country's prosecutors.

ChainCatcher news, according to Fortune magazine, Bloomberg's previous report that Terraform Labs will pay $4.47 billion to the SEC is "shoddy," as the SEC may ultimately only receive a small portion of the fines, or may not receive the full amount at all.It is reported that Terraform Labs has gone bankrupt, with almost no money left, and it is currently unclear whether Do Kwon still has the $204 million judgment amount he owes.

ChainCatcher news, according to Protos, Do Kwon's ever-changing extradition case is being sent back to the High Court of Montenegro, which will determine whether the extradition policy established between the United States and the Kingdom of Serbia in 1901 is still applicable. At the time the treaty was signed, Montenegro was not part of the Kingdom of Serbia, but unified with the country in 1918. It remains unclear how international law and local Montenegrin law will interpret this legal standard from over a century ago.Currently under house arrest in Podgorica, cryptocurrency Ponzi scheme orchestrator Do Kwon was arrested in March 2023 while attempting to flee to Dubai, and he has been in a state of ongoing uncertainty. He has been shuttling between prisons, immigration camps, and random accommodations in Montenegro, and decisions regarding his extradition have been overturned multiple times.

ChainCatcher news, according to market news, Terraform Labs and Do Kwon have reached a preliminary settlement with the SEC regarding the fraud case.