Do Kwon Successfully Appeals Extradition Decision by Montenegro Court

CoinDeskPolicyPublicado em 2023-12-18Última atualização em 2023-12-19

Resumo

A previous decision that legal requirements for extradition had been met was rejected by the country's Appeals Court.

A decision by a Montenegro high court approving the extradition of Terra founder Do Kwon to either the U.S. or South Korea has been rejected by the country's Appeals Court, a Tuesday notice shows.

The former CEO of Terra was arrested and sentenced to prison in Montenegro over charges of possessing falsified official documents. The U.S. and South Korea have requested his extradition to face criminal charges related to the collapse of his multi-billion dollar crypto enterprise Terraform Labs in May of 2022.

The Podgorica High Court in November decided that the legal prerequisites for the extradition of Kwon were met. Tuesday’s order shows Kwon’s defense successfully appealed that decision. The Appeals Court has ordered the case to be returned to the Podgorica Basic Court for retrial.

The Appeals Court rejected the extradition decision because the investigating judge failed to hear out the defendant, Kwon, with regard to the U.S. extradition request – something required by law.

STORY CONTINUES BELOW

Recommended for you:

If the courts eventually approve Kwon’s extradition, the country’s Minister for Justice has the final decision.

Edited by Parikshit Mishra.

Leituras Relacionadas

After outpacing Bitcoin, can LUNC sustain its latest price rally?

Terra Luna Classic (LUNC) recently posted strong double-digit gains, outperforming Bitcoin and the broader crypto market. However, the sustainability of this rally is in question due to several concerning signals. Key indicators of retail interest, such as Google Search Trends and Community Sentiment, have fallen significantly, suggesting waning curiosity and a drop in bullish outlook among investors. More critically, capital has been flowing out of LUNC on both the spot and perpetual markets, with notable outflows recorded over multiple timeframes. This combination of declining retail interest and capital flight indicates that the asset lacks a strong foundation to support further upward momentum, putting the current price rally at risk of a reversal in the near term.

ambcryptoHá 40m

After outpacing Bitcoin, can LUNC sustain its latest price rally?

ambcryptoHá 40m

Internet Capital Markets 2026: The US Structural Shift and the Strategic Window for Asian Institutions

The article outlines the transformative evolution of the crypto industry into a mature, regulated phase, ultimately converging toward an "Internet Capital Markets" (ICM) model. ICM envisions a fully integrated, public blockchain-based system for asset issuance, trading, and settlement, replacing legacy financial infrastructure with atomic, T+0 settlement to eliminate significant hidden costs. The piece positions Solana as a leading technical and institutional foundation for this transition. It details active U.S. institutional adoption across four key areas: banking & capital markets (e.g., J.P. Morgan's commercial paper, State Street's treasury fund), payments & stablecoins (e.g., Western Union, Fiserv), tokenized real-world assets (e.g., Apollo, Figure), and infrastructure diffusion, highlighting network effects. A clear U.S. regulatory progression is noted, including the GENIUS Act and digital commodity classifications, though gaps remain for areas like DEXs and public stock trading. For Asian financial institutions, the article presents a strategic framework categorizing markets as "Executable," "Transitional," or "Exploratory," advising fast-follower strategies to leverage established U.S. infrastructure and regulatory precedents. It concludes that the window for strategic entry is open but its duration is uncertain.

marsbitHá 58m

Internet Capital Markets 2026: The US Structural Shift and the Strategic Window for Asian Institutions

marsbitHá 58m

‘Halt is not okay’ – All about Base and its consensus problem

Base, a Coinbase-incubated Ethereum Layer 2 (L2) network, experienced a significant consensus issue for nearly 48 hours, halting deposit and withdrawal functions. The problem began on June 25th when an invalid block was sequenced, leading to "unhealthy" mainnet block production. While withdrawals were partially degraded, deposits faced a "major outage." Base co-founder Jesse Pollak assured users that all funds were safe but emphasized that such a chain halt is unacceptable, vowing to improve the platform's reliability for 24/7 global finance. This disruption occurs as Base aims to expand into tokenized asset lending and borrowing, despite having achieved substantial growth with over $184M in cumulative revenue and $4B in Total Value Locked (TVL). The incident's impact on user confidence remains to be seen.

ambcryptoHá 2h

‘Halt is not okay’ – All about Base and its consensus problem

ambcryptoHá 2h

Mantle loses key long-term support as selling volume surges 44%

The cryptocurrency market experienced a significant downturn, with Bitcoin dropping 8.6% and Mantle (MNT) falling sharply by 21.6%. MNT's daily trading volume surged 44%, indicating strong selling pressure. The decline was influenced by macroeconomic news, specifically a rise in the PCE price index, which triggered a broader market sell-off. Technically, Mantle lost a critical long-term support level at $0.55 on its weekly chart, confirming a bearish trend. Analysis suggests the price could drop further toward the $0.319 support level. On shorter timeframes, the bearish structure remains intact. However, with the RSI deeply oversold, a price bounce is anticipated. Traders are advised to wait for a potential rebound to the $0.526-$0.556 range to consider selling opportunities.

ambcryptoHá 3h

Mantle loses key long-term support as selling volume surges 44%

ambcryptoHá 3h

Why Is No One Buying DeFi Insurance?

"Why DeFi Insurance Remains Unpurchased" explores the paradox of decentralized finance insurance. While DeFi insurance promises automatic, unbiased payouts via smart contracts—eliminating traditional insurers' denial practices—it struggles to attract users. The core issue is economic viability. Premiums are prohibitively high relative to the yields from DeFi protocols. For example, insuring a deposit on Aave or Maple Finance can consume most or even all of the annual yield, leaving returns comparable to or worse than traditional savings. Only the safest protocols, like MakerDAO, offer affordable premiums. Furthermore, the DeFi insurance model is structurally fragile. Unlike traditional insurance where risks are uncorrelated, DeFi risks are highly interconnected (e.g., oracle failures, bridge hacks). A single major exploit can simultaneously threaten multiple protocols, potentially bankrupting the entire insurance pool, which holds only millions against billions in total value locked. The governance model also creates a conflict of interest. In platforms like Nexus Mutual, token holders who vote on claims risk their own capital if payouts are approved, incentivizing denials. Consequently, the market is tiny and shrinking. Nexus Mutual dominates with $81.56 million in assets, but the industry lacks the capacity to cover a catastrophic event like the $292M Kelp DAO hack. Other providers have dwindled or shut down. The article concludes that DeFi insurance faces a "tragedy of the commons": its stability requires widespread adoption, but individual users have no incentive to pay for it, as premiums destroy their yields. Current solutions involve preventative measures like bug bounties and seeking external capital from traditional reinsurance, acknowledging that on-chain capital alone is insufficient to cover on-chain risks.

marsbitHá 3h