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

Do Kwon will be heading to his home country this time.

Do Kwon to Be Extradited to South Korea—This Time for Real

The court made the decision based on South Korea placing the extradition request before the United States and other relevant legal criteria.

Montenegro Appellate Court rejects Do Kwon's appeal of South Korean extradition

The U.S. is also seeking Kwon's extradition despite the Montenegrin court's decision to send him to South Korea.

Do Kwon Appeal of South Korea Extradition Rejected by Montenegro Court

A U.S. court has allowed Terraform Labs to hire law firm Dentons to defend the company in a lawsuit brought against it by the U.S. Securities & Exchange Commission (SEC) in Jan. 2024.

Terraform Labs Allowed to Hire Law Firm Dentons In Bankruptcy Case by U.S. Court: Reuters

Despite Montenegro's High Court ruling for Do Kwon's extradition to South Korea, the U.S. is not backing down.

US Continues Efforts to Extradite Terra Founder Do Kwon

The jurisdictional tug-of-war between U.S. and South Korean prosecutors over Terra founder Do Kwon continues to drag on.

US to Challenge Extradition of Terra Founder Do Kwon to South Korea

The South Korean investor community urged authorities to send the Terraform Labs co-founder to the US for 'heavier punishment.'

South Korean Terra investor community wants Do Kwon sent to US, not Korea

The U.S. will appeal the ruling of a Montenegro Court to hand Terraform Labs co-founder Do Kwon to South Korea, according to Bloomberg.

U.S. Will Appeal Do Kwon's Extradition to South Korea: Report

US DOJ said it will continue to pursue the extradition of Terraform Labs co-founder Do Kwon from Montenegro, according to Bloomberg.

US to challenge Do Kwon's South Korea extradition: Bloomberg

In a recent legal twist, the High Court in Podgorica has ruled in favor of extraditing Terraform Labs co-founder Do Kwon to South Korea.

High Court Shifts Extradition Route for Terraform Labs' Do Kwon to South Korea

An appellate court in Montenegro overturns an earlier ruling that approved the extradition of disgraced Terraform Labs founder Do Kwon to the United States. Kwon is facing criminal charges arising from the collapse of the stablecoin TerraUSD and cryptocurrency Luna that wiped out $40 billion worth of investor funds in 2022.

Montenegro Court Revokes Earlier Decision To Extradite Do Kwon to US, Citing Procedural Violations

Local media in Montenegro reported that Terra founder Do Kwon is cleared for extradition to his native South Korea.

Terra Founder Do Kwon Cleared for Extradition to South Korea: Report

Kwon successfully appealed a previous decision by the same court to send him to the U.S. instead.

Do Kwon Can Be Extradited to South Korea, Montenegrin Court Rules: Reports

The move comes after a Montenegrin court overturned a prior decision regarding Kwon's extradition to the United States.

Do Kwon to be extradited to South Korea after court reverses extradition to US

South Korean authorities requested Interpol's assistance in bringing back the Terraform Labs co-founder on Thursday, local media reported.

South Korea requests Interpol to assist with Do Kwon's extradition: reports

The rebooted LUNA and LUNA Classic (LUNC) both skyrocketed on Tuesday on news of Terra founder Do Kwon's latest legal developments.

LUNA Pumps 77% as Do Kwon Evades Extradition—But the Gains Are Fading

In a pivotal legal reversal, Montenegro's Court of Appeals has annulled the extradition of Terraform Labs co-founder Do Kwon to the United States, siding with his defense's appeal and invalidating a prior High Court ruling from Feb. 20. Montenegro's Appeal Court Blocks Do Kwon's U.S.

Montenegro Court Halts Extradition of Terra's Do Kwon to the US

Once again, the case will head to a lower court to be retried. Terra founder Do Kwon faces charges over the collapse of LUNA and UST.

Terra Founder Do Kwon Escapes Extradition to United States—Again

A court in Montenegro overturned a previous court's ruling to extradite the imprisoned co-founder of the Terra (CRYPTO: LUNA) blockchain network Do Kwon to the United States. What Happened: The initial ruling by the Higher Court in Podgorica on Feb. 20, 2024, had approved the expedited extradition of South Korean national Kwon to the U.S., following a request by the United States for his criminal prosecution for multiple offenses.

Do Kwon's US Extradition Overturned - What's Next?

A Montenegro court has canceled the approval of the Terraform Labs co-founder Do Kwon's extradition to the U.S.

Do Kwon's extradition from Montenegro to the US revoked on appeal

Kwon is facing fraud charges in the U.S. around his role in Terra's collapse.

Terra's Do Kwon Wins Extradition Appeal in Montenegro

In its objection, the regulator argued that Terraform Labs "siphoned" $166 million into an "opaque slush fund" for law firm Dentons.

Terraform Labs Hits Back at SEC 'Government Overreach' Over Special Counsel Payment

Terraform Labs has challenged the SEC's objection to its retention payment of Dentons as special counsel in its Chapter 11 bankruptcy case.

Terraform Labs counters SEC's ‘slush fund' claims, alleges government overreach

Do Kwon, the embattled former CEO of Terraform Labs, is currently stranded in Montenegro due to extradition delays, following accusations by the U.S. Securities and Exchange Commission (SEC) of conducting a massive fraudulent crypto scheme.

Terraform Labs Founder Do Kwon Faces Extradition Delay in Montenegro Amid SEC Fraud Allegations

The regulator argued that Terraform Labs "siphoned" the money into an "opaque slush fund for its lawyers."

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