Key Takeaways On Wednesday, the Terra blockchain was briefly halted due to a $4 million exploit, Coindesk reported. The interruption resulted from a reentrancy attack, exploiting a known vulnerability and leading to the theft of funds in several tokens. Terra…
In order to wind down operations as part of a $4.5 billion arrangement with the US securities regulator, bankrupt crypto company Terraform Labs is trying to sell four of its businesses.
Court documents reveal an agreement in principle to resolve a fraud action between Terraform Labs and its former CEO, Do Kwon, with the US SEC.
Kwon’s attorneys have appealed a high court ruling that the justice minister of Montenegro should consider his extradition to either the US or South Korea.
The US SEC has filed a motion against Terraform Labs and its co-founder, Do Kwon, seeking billions of dollars in disgorgement and civil penalties.
Do Kwon was ordered to be extradited to the US or South Korea, but the Supreme Court of Montenegro overturned the ruling.
Do Kwon was released from prison in Montenegro while the Supreme Court considered South Korea's and the United States request for extradition.
Do Kwon, a co-founder of Terraform Labs, filed an appeal that would have prevented his extradition to South Korea, but a Montenegrin court denied it.
The recent verdict by the Montenegrin high court, which ordered the extradition of Do Kwon from Terraform Labs to South Korea, will be challenged by US authorities.
The ongoing story of Do Kwon is that a Montenegrin court has once again overturned an earlier ruling that called for the executive's extradition to the US.
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