A new development has emerged in the extradition process of Do Kwon, a significant figure in the cryptocurrency world. Kwon, still in Montenegro, faced uncertainty about whether he would be extradited to South Korea or the USA, despite multiple court decisions.
Do Kwon’s Current Status
Do Kwon, the founder of Terra Form, was blamed for the collapse of LUNA and stablecoin USTC in 2022. The incident in May 2022 marked the first major blow to cryptocurrencies, which struggled until the FTX events in November of the same year.
Following these events, Do Kwon disappeared but was eventually caught traveling with a fake passport in Montenegro and subsequently arrested. A lengthy judicial process ensued, with multiple attempts to decide which country Kwon should be extradited to.
Both the USA and South Korea demanded Kwon’s extradition, and Montenegro courts issued several decisions favoring both sides, which were repeatedly overturned. The latest information indicates that Montenegro courts have now paved the way for Do Kwon’s extradition to South Korea.
Following the news, attention turned to the LUNC price, which also showed signs of trouble.
What is the LUNC Price?
Amidst ongoing declines in the cryptocurrency market, the news about Kwon led to a sharper drop in LUNC’s price. The last 24 hours saw a 6.39% decrease, bringing the price down to $0.00007560.
LUNC’s market cap fell to $411 million, while its trading volume increased by 43%, reaching $14.98 million.
