Do Kwon’s Appeal Successful! Higher Court Overturns Extradition Decision to the United States, LUNA Soars Over 40%

Do Kwon's Appeal Successful! Higher Court Overturns Extradition Decision to the United States, LUNA Soars Over 40%

Do Kwon's Appeal Successful! Higher Court Overturns Extradition Decision to the United States, LUNA Soars Over 40%

According to a previous report by Zombit, Do Kwon, the founder of Terraform Labs, was previously ruled to be extradited to the United States and faced fraud charges related to the catastrophic losses suffered by American investors in the algorithmic stablecoin TerraUSD (UST). However, Do Kwon appealed against this ruling.

According to the latest announcement from the Montenegrin court, the result of Do Kwon’s appeal has been released, and the High Court has rejected the decision to extradite Do Kwon, citing that there is no clear and valid reason for the decisive fact regarding the order of the request letter. Therefore, the initial decision violates the relevant provisions of the country’s criminal procedure law.

After the news came out, the LUNA token also experienced a rapid surge in the market, with a gain of over 40% in the past 24 hours.