Terra Collapse Shakes Cryptocurrency Markets

The cryptocurrency market collapse in mid-2022 was triggered by Terra’s downfall. UST’s flawed mechanism and Terra management’s suspicious relationships with market makers caused investors to lose billions of dollars. The responsible parties have yet to receive the expected punishment.

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Figures like Zhu Su, SBF, and Do Kwon were architects of the recent crypto bear market. SBF received a 25-year prison sentence, while Zhu remains free, and Do Kwon continues to live comfortably in Montenegro despite being caught with a fake identity. Multiple court orders for his extradition to the US and his home country, South Korea, have been overturned.

Now, according to an AFP report, the decision to extradite Do Kwon to South Korea has been canceled again. Both the US and South Korea seek his extradition to prosecute him for causing massive losses to crypto investors. Based on the latest statement from the Montenegro Court of Appeals, Kwon’s extradition appears to be delayed further.

Following the latest development, LUNA Coin did not experience one of its usual speculative increases.