To avoid events like Terra's collapse from recurring, South Korea dedicates its efforts to creating its first-ever investigation unit focusing on combatting digital currency-related crimes.
As Do Kwon deals with life under police custody in Montenegro while awaiting his extradition, Swiss authorities took the initiative to freeze his assets stashed under the care of Sygnum bank.
The LUNA and TerraUSD founder was taken into custody over charges of document forgery, but he will complete his sentence in a month as the time he spent in detention will be considered.
Apart from the extradition battle and falsification charges, Do Kwon is set to be questioned by the Special State Prosecutor’s Office over his relationship with local politician Milojko Spajic.
South Korean prosecutor Dan Sunghan thinks that sending Do Kwon to South Korea is the most rational decision to recover damages and bring justice to thousands of victims of the TerraUSD de-pegging.
Prosecutors from the High Court in Podgorica revoked the bail conditions on the fact that it “could not establish the value of their assets just based on their statements.”
The Montenegro prosecutor's appeal revolves around the fact that the bail conditions for Do Kwon and Han Chang-Joon appear to be a slap on the wrist compounded by the flight risk posed by the duo.
Daniel Shin assembles over 30 lawyers as he prepares to stand trial on May 26, attempting to quash charges linked to the Terra collapse that were brought against him by the South Korean court.
Jump Trading entered into an agreement with Terraform Labs to manipulate UST to stay at $1 and in return purchased LUNA at a 99% discount, investors allege.
Terraform Lab's Do Kwon and Han Chang-joon would be subjected to house arrest under police supervision on a €400,000 (approximately $436,000) bail each.
The $176 million assets linked to Do Kwon that were seized by South Korean authorities include a posh office complex, a car fleet, and a Galleria Foret apartment in the capital Seoul.
South Korea is in an extradition battle with the United States for Do Kwon, who is currently facing passport forgery charges in Montenegro, as it promises a long sentence.
