“Behind such illegal behavior of the minister is the fact that the courts, on two occasions … made a decision to extradite Do Kwon to South Korea,” lawyers Goran Rodić i Marija Radulović said in a statement.
Kwon was charged in the U.S. with fraud by federal prosecutors in New York over a $40 billion crash of Terraform Labs’ cryptocurrency, which devastated retail investors around the world.
He and another South Korean were arrested in Montenegro while trying to depart for Dubai, United Arab Emirates, using fake Costa Rican passports. Kwon has served a prison term in Montenegro for using a fake passport.
Kwon and five others connected to Terraform had been wanted on allegations of fraud and financial crimes in relation to the implosion of its digital currencies in May 2022.
TerraUSD was designed as a “stablecoin,” a currency which is pegged to stable assets like the dollar to prevent drastic fluctuations in prices. However, around $40 billion in market value was erased for the holders of TerraUSD and its floating sister currency, Luna, after the stablecoin plunged far below its $1 peg.
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Publish date : 2024-12-27 08:27:00
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