Tag Archives: do kwon

Although the US has yet to win the extradition victory against South Korea for Do Kwon, a New York court has already ruled against the fallen former crypto mogul in a legal case launched by the Securities and Exchange Commission. Do Kwon and his crypto brainchild – Terraform Labs – were found guilty of misleading investors in the 2022 crash. The Terra collapse from two years ago was among the loudest in the cryptocurrency industry, which resulted in an investor loss of around...

CoinspeakerTerraform Labs Trial Wraps with Jury Verdict, Faces Severe SEC Penalties and Sanctions Terraform Labs is set to deliver their final arguments in a civil fraud trial accused of defrauding investors with the TerraUSD stablecoin, which led to $40 billion in losses and wider crypto market havoc in 2022. Terraform Labs Trial Wraps with Jury Verdict, Faces Severe SEC Penalties and Sanctions

CoinspeakerTerraform Labs Faces Trial in New York amid Civil Fraud Allegations Tied to TerraUSD Collapse The Terraform trial holds significant implications for the crypto industry.  A win for the SEC would solidify its authority to regulate cryptocurrencies deemed securities. Terraform Labs Faces Trial in New York amid Civil Fraud Allegations Tied to TerraUSD Collapse

The United States government is set to continue its fight for the extradition of Terraform Labs co-founder Do Kwon to the country after a Montenegrin court ordered the deportation of the crypto mogul to his home nation, South Korea. According to a Bloomberg report, prosecutors in the U.S. are hellbent on making Kwon face charges for his role in the $40 billion collapse of the TerraLuna ecosystem in May 2022. “The United States continues to seek Kwon’s extradition in...

The National Police Agency of South Korea is calling for help with extraditing Do Kwon shortly after a Montenegro court refused to send him to the United States. Per a report from local outlet Newsis, the agency sent a telegram to the Secretariat of the International Criminal Police Organization (Interpol) on Thursday. “We hope for interest and support at the Secretariat level so that the subject can be extradited to Korea,” reads a translation of the request. “The Ministry...

CoinspeakerSouth Korea Seeks Help from Interpol for Extradition of Terra Founder Do Kwon In response to media queries, a police officer stated that the task force overseeing Do Kwon's case had convened "emergency meetings". South Korea Seeks Help from Interpol for Extradition of Terra Founder Do Kwon

Terraform Labs co-founder Do Kwon may not be leaving for the United States any time soon after the Appellate Court of Montenegro overturned a previous decision by a lower court to extradite the former crypto exec to the US. Do Kwon is facing fraud and other criminal charges in the United States following Terra’s collapse that caused investors billions of dollars in losses, while prosecutors in his native country, South Korea, are also seeking his extradition. On March 5,...

Nearly a year after his arrest in Montenegro, Terraform Labs co-founder and former CEO Do Kwon is reportedly set to be extradited to the United States to face criminal charges. Both the United States and South Korea previously submitted extradition requests to Montenegro officials. According to local news outlet Pobjeda, on Feb. 21, the Podgorica High Court in Montenegro decided that Do Kwon would be extradited to the United States, thereby ruling out an extradition request...

Terraform Labs co-founder Do Kwon has won a second appeal against the Montenegro High Court’s decision to uphold extradition requests from both the U.S. and South Korea. The case will now head to the first-instance court for reconsideration based on the new ruling. Court of Appeals Overturns Extradition Decision Initially, Kwon had won an appeal in December, overturning the High Court’s decision in favor of the extradition requests. However, the same court reversed its...

A former developer at Terraform Labs, known only as “Lee,” reportedly took the stand on Monday at the 14th Criminal Division of the Seoul Southern District Court, testifying against the company’s co-founders, Kwon Do-hyeong and Shin Hyun-seung. The witness, formerly a leader within the Terra development team, provided crucial testimony against Terra founder Do Kwon and Terraform Labs co-founder Shin Hyun-seung. Lee’s Testimony According to a local media outlet report, Lee...