Disgraced Luna Founder and UST Minter Do Kwon have finally been extradited to the US, and as the industry matures, a new Meme Index fund (MEMEX) has launched.
According to a local news outlet, Terraform Labs co-founder Do Kwon was extradited from Montenegro to the United States today (December 31).
“Today, at the Podgorica Airport border crossing, South Korean citizen Kwon Do-Hyung, who was sought by two countries, South Korea and the United States, was extradited by the NCB Interpol Podgorica officials with the support of the special police unit,” Montenegro newspaper, Vijesti reported.
The quote from Vijesti was taken from an official statement by Montenegro’s Ministry of Justice. The same statement said that Do Kwon was handed over to US law enforcement and FBI agents following a decision by the Ministry of Justice of Montenegro.
JUST IN: 🇲🇪🇺🇸Montenegro completes the extradition of Do Kwon to the United States- Prime Minister confirms. pic.twitter.com/zDzWz3Y6XJ
— Crypto India (@CryptooIndia) December 31, 2024
Architect Of The LUNA And UST Unwinding Has Been In The Middle Of An Extradition Battle Between South Korea And The US
Do Kwon has faced competing extradition requests from the US and South Korea. This resulted in months of legal proceedings between the two nations to decide which would win the extradition of the Luna mastermind.
On December 27, the Minister of Justice of Montenegro, Bojan Božović, signed the order to extradite the Terraform Labs co-founder to the US.
Kwon will now face criminal charges in the US, including conspiracy to commit fraud related to securities transactions, money laundering, and electronic fraud. The charges result from his role in the collapse of the TerraUSD (UST) stablecoin and Luna (LUNA).
UST was an algorithmic stablecoin and cryptocurrency created by Terraform Labs and Do Kwon, which resulted in billions of dollars in investor losses.
Montenegro’s Ministry of Justice stated that the extradition decision was based on several criteria. This includes the severity of the criminal offenses, the location of the crimes, the order of extradition requests, Kwon’s nationality, and the potential for further extradition.
Kwon Was Arrested In The Balkan Country Back In March 2023 After Being Caught With Forged Travel Documents
Do Kwon was arrested with numerous forged documents. These included passports from Costa Rica and Belgium as well as a Hawaiian driver's license. pic.twitter.com/KSDLIGwDh4
— Coin Bureau (@coinbureau) March 24, 2023
Do Kwon was arrested in Montenegro in March 2023 following the collapse of the algorithmic stablecoin TerraUSD and the native token of the Terra ecosystem, Luna. Shortly following the unwinding of UST and LUNA, authorities in South Korea, the US and Interpol quickly issued warrants for his arrest in connection with the incident.
The Terraform Labs co-founder was arrested in Montenegro in March last year for traveling with forged travel documents and served prison time in the Balkan country before his extradition.
Kwon’s case has received much political attention in Montenegro. Former Justice Minister Andrej Milovic accused Prime Minister Milojko Spajić of attempting to influence the decision in favor of South Korea due to alleged financial ties between the government and Do Kwon.
BONUS: Meme Index (MEMEX) Presale Flies Past $1 Million Milestone As Smart Investors Spot The Genius In Meme Coin Funds
Meme Index (MEMEX) is a brand new utility-backed meme coin that raised $1.3 million during its presale’s first few days.
Instead of putting everything on one risky meme coin, Meme Index allows its investors to spread risk across four curated indexes, each with a different risk preference. They can be thought of as mutual funds but with meme coins.
Each index offers exposure to a range of tokens without putting all your eggs in a single coin. To top it off, holders of MEMEX will vote on the meme coins that make up each of the four indexes.
This means that not only can underperforming coins be voted out of an index, but new, viral meme coins can also be voted into one. This will help the indexes stay relevant to market trends.
A staking protocol is built into the MEMEX presale, and investors who choose to stake their presale bag can earn over 1800% APY.
Join the Meme Index communities on Telegram and X for the latest news and updates.
EXPLORE: Kekius Maximus Crypto Erupts In Latest Musk Rally: But Will Kekius Maximus Hit $1Bn Mcap?
Join The 99Bitcoins News Discord Here For The Latest Market Updates
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
In This Article
- Architect Of The LUNA And UST Unwinding Has Been In The Middle Of An Extradition Battle Between South Korea And The US
- Kwon Was Arrested In The Balkan Country Back In March 2023 After Being Caught With Forged Travel Documents
- BONUS: Meme Index (MEMEX) Presale Flies Past $1 Million Milestone As Smart Investors Spot The Genius In Meme Coin Funds
Free Bitcoin Crash Course
- Enjoyed by over 100,000 students.
- One email a day, 7 days in a row.
- Short and educational, guaranteed!
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
