According to a previous report by Zombit, Do Kwon, the founder of Terraform Labs, was previously ruled to be extradited to the United States and faced fraud charges related to the algorithmic stablecoin TerraUSD (UST) causing devastating losses to US investors. However, Do Kwon appealed against this ruling.
According to the latest announcement from the Montenegrin court, the result of Do Kwon’s appeal has been released. The High Court has rejected the decision to extradite Do Kwon, citing that there is no clear and valid reason regarding the decisive fact of the order of the request, thus violating the relevant provisions of the country’s criminal procedural law.
After the news came out, the LUNA token also experienced a rapid surge in the market due to speculation, with an increase of over 40% in the past 24 hours.
