Korean prosecutors have contacted Binance, requesting it to prevent crypto fugitive Do Kwon from withdrawing funds. Prosecutors fear that Kwon will start liquidating crypto from the proceeds of selling property.

Terra Labs halted the operation of Terra in May 2022 due to the demise of its ecosystem that was brought on by investors dumping their Terra stablecoin, TerraUSD, en masse.

The extradition of TerraForm Labs founder Do Kwon from Montenegro has been requested by both the U.S. and South Korea, Justice Minister Marko Kovac said at a Wednesday press conference.

Do Kwon will be held in Montenegro for a month on charges of using forged travel documents, according to local prosecutor Haris Shabotich.

Do Kwon, the former crypto mogul responsible for the $40 billion downfall of two digital currencies in 2022, was recently apprehended at the airport in Podgorica.

It is alleged that Terraform Labs (TFL) CEO and founder Do Kwon sent $4.5 million to a top Korean law firm through transfers made in July and August of 2022.

The creator of the failed TerraUSD stablecoin, Do Kwon, has been arrested in Montenegro after being in hiding for several months. Do Kwon was known to have travelled considerably since the epic crash of TERRA LUNA and its algo stable TerraUSD.

The SEC is suing Do Kwon and Terraform Labs, which owned the infamous UST.

Shenzhen, China, has begun a retail-focused “cross-border” digital yuan pilot with Hong Kong. Japan will launch a pilot programme in April to test the use of digital yen.