Do Kwon, Terraform Labs’ co-founder, is reportedly on the verge of being extradited to the United States to face criminal charges rather than South Korea. According to sources close to the situation, the extradition request made by US authorities is expected to be approved by Montenegro’s Justice Minister Andrej Milovi. Kwon, sentenced to four months in Montenegro for using false travel documents, is implicated in Terraform Labs’ demise, prompting charges in both the United States and South Korea. According to the Wall Street Journal on December 7th, Montenegro’s Justice Minister Andrej Milovi is inclined to approve the US extradition request.
The embattled Terra Luna Classic (LUNC) community is taking steps to restore 800 million malfunctioning stablecoin Terra Classic USD (USTC). The colossal amount of USTC was initially sent to Ozone Protocol by Do Kwon, the controversial founder of Terra blockchain. In an effort to rectify the situation, a community member named Vegas Morph has presented a governance proposal, urging the LUNC community to vote on returning the funds to the Terra community pool. In a Medium post titled “Return 800 million USTC, Now,” Vegas Morph outlines the reasons behind the proposal and calls for action from the LUNC community. If