Luna Classic (Former Terra)

Luna Classic (LUNC) is the native token of the original Terra blockchain, which was launched in 2018. Previously, there was an exchange relationship between LUNC and UST, an algorithmic "stablecoin" intended to have a constant value of $1. After UST depegged from $1 in May 2022, the price of LUNA and UST crashed. As a result, the Terra community voted to create a new blockchain. The original Terra blockchain and LUNA token were rebranded as Terra Classic and Luna Classic. The goal of Terraform Labs, the firm that developed the new and old Terra blockchains, is that the protocols and applications of the Terra Classic network will migrate to the new Terra 2 blockchain. As of June 2022, the future utility of the original Terra blockchain is uncertain.

Terra

A court in Montenegro has extended the incarceration of former crypto fugitive Do Kwon and his associate Han Chang-Joon for an additional six months while they consider an extradition request from South Korean prosecutors. The decision comes after a higher court in Podgorica allowed Kwon and Han to be released on 400,000 euros ($438,000) bail each, local outlet RFE

Terra Founder Do Kwon's Incarceration Extended By Montenegro Court

Disgraced Terra (LUNA) founder Do Kwon reportedly relocated tens of millions of dollars worth of crypto away from a Luna Foundation Guard wallet after his arrest in March.

Terra Founder Do Kwon Allegedly Moved $29,000,000 in Crypto Away From Luna Foundation Guard After Arrest: Report

Founder of Terraform Labs, Do Kwon, has withdrawn millions of dollars in crypto from an entity linked to his failed blockchain firm, investigators claim. South Korean authorities are now trying to locate the digital assets that have been allegedly transferred since his arrest in Montenegro in March.

Do Kwon Moved $29 Million Worth of Coins Since Arrest, Prosecutor Says

Terra co-founder Do Kwon allegedly had financial relations with the leader of a political party in Montenegro.

Do Kwon Claims to Have Backed Political Party in Montenegro: Report

The Podgorica district court in Montenegro has dismissed an appeal by the State Prosecutor's office against the bail of Do Kwon

Appeal Against Terraform Labs Co-Founder Do Kwon's Bail Terms Dismissed in Montenegro

Terra (CRYPTO: LUNA) founder Do Kwon's bail request has been approved by the Montenegro court, following the annulment of a previous approval by a higher court. Kwon, along with former Terra executive Han Chang-joon, was arrested in Montenegro in March for allegedly attempting to travel with forged documents.

Montenegro Court Delivers Shocking Twist In Terra Founder Do Kwon's Forgery Case

After denying his bail request, the Montenegro High Court has granted Kwon police-enforced house arrest until his court date on June 16.

Do Kwon's Bail Approved After Property Verified to Be 'Worth Millions'

A previous approval was annulled by a higher court after it was determined the Terra founder's finances were not sufficiently assessed in the first decision.

Do Kwon's $428K Bail Request in Fake Passport Case Approved by Montenegro Court

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has seen a resurgence in the past 24 hours. What Happened: The token has shot up by 20% following the announcement of the v2.1.0 upgrade proposal, which has generated significant attention among investors.

Terra Classic (LUNC) Shoots Up 20% — What's Driving The Surge?

A lower court had determined the value of Kwon's property based on "statements" and not concrete evidence, a high court cited in a decision to scrap his bail approval.

Do Kwon's Detention in Montenegro Extended After High Court Decision to Revoke Bail

Do Kwon, the former head of Terraform Labs and the creator of the failed TerraUSD stablecoin, is back in custody in Montenegro after a higher court revoked his bail of 800,000 euros.

Terraform Labs Co-Founder Do Kwon's Bail Revoked

A Montenegrin high court judge has reportedly invalidated the bail application of Do Kwon, the co-founder of Terraform Labs. Kwon was detained for providing false identification while boarding a flight to Dubai alongside a companion on March 23, 2023.

Terraform Labs CEO Do Kwon Denied Bail by Montenegrin High Court; Extradition Requests Loom

A court in Montenegro overturned a prior ruling that granted bail to ex-crypto titan and co-founder of Terraform Labs, Do Kwon. The high court's decision, which took place in Montenegro's capital of Podgorica, meant Kwon would continue to be held in custody, Bloomberg quoted court spokeswoman Marija Rakovic as saying.

Do Kwon Bail Revoked By High Court In Montenegro

Less than two weeks after being granted bail and released to house arrest, Bloomberg reports that Kwon is back in custody.

Terra Founder Do Kwon Back in Jail in Montenegro, Bail Revoked

Prosecution appealed a previous decision by a lower court in the country to let the disgraced founder go free while he faced trial.

Montenegro High Court Says No Bail for Terra's Do Kwon in Fake Passport Case: Bloomberg

The Terraform Labs co-founder remains in a Montenegro jail.

Do Kwon's bail revoked by Montenegro court: Bloomberg

A higher court in Montenegro on Wednesday scrapped bail of 800,000 euros ($880,640) previously granted to Do Kwon, a cryptocurrency entrepreneur charged in the U.S. with a multibillion-dollar fraud, and his ally pending a trial.

Montenegro court scraps bail for crypto entrepreneur Do Kwon

Embattled Terra (LUNA) founder Do Kwon is reportedly having his bail conditions appealed by Montenegrin prosecutors.

Terra (LUNA) Creator Do Kwon's Bail Conditions Appealed by Prosecutors: Report

Terraform Labs co-founder Do Kwon has been released from custody in Montenegro on bail.

Terra Luna Founder Do Kwon Out on Bail

Terraform founder Do Kwon will be released from jail but placed under police surveillance at a local residence, a Montenegrin court has decided. The trial against him and another Korean, on charges of travelling on false documents, opened on Thursday with both pleading not guilty.

Do Kwon to Be Released on €400,000 Bail, Pleads Not Guilty in Montenegro

Troubled Terra (LUNA) founder Do Kwon is being placed under house arrest in Montenegro after posting bail.

Embattled Terra (LUNA) Founder Do Kwon Placed Under House Arrest in Montenegro After Posting $435,000 Bail

A court in Montenegro agreed on Friday to release Do Kwon, a cryptocurrency entrepreneur charged in the U.S. with a multibillion-dollar fraud, on bail of 400,000 euros ($440,320), pending a trial on local charges.

Montenegro court releases crypto entrepreneur Do Kwon on bail

The Basic Court in Montenegro has agreed to a $436,000 bail for Terraform Labs' co-founder and CEO Do Kwon.

Terraform CEO Do Kwon to Be Released on Bail in Montenegro

Terraform Labs (CRYPTO: LUNA) co-founder Do Kwon and former CFO Han Chong-joon have been granted conditional release by a Montenegrin court after they each posted bail of 400,000 euros (U.S.$436,000). The duo were detained in March at Podgorica Airport, accused of attempting to exit the country using counterfeit travel documents.

Terraform Labs Founder And CFO Both Set For Release On $436K Bail

Bail conditions restrict Kwon from leaving his apartment in the country as the trial continues.

News for Luna Classic (Former Terra) Crypto (LUNC)