The Montenegrin court decided to release Terra (LUNA) founder Do Kwon on house arrest.
Do Kwon, who has been detained in Montenegro for about 1 year, received an interesting decision. The Montenegrin court announced on March 22 that Do Kwon was released under house arrest.
Recently, a decision was made that Do Kwon would be extradited not to the United States but to South Korea. However, this decision has been suspended by the Montenegrin court.
This mild sentence for Do Kwon has led to the rise of related cryptocurrency projects. Following the news, LUNA experienced a 15% increase, and LUNC saw an 11% rise.
Terra Luna and TerraUSD, developed by Kwon, collapsed in May 2022 with Terra’s algorithmic stablecoin UST, causing investors to suffer billions of dollars in losses.
The fact that Do Kwon, who caused billions of dollars in losses for investors in the past, did not receive a major sentence and the gift-like punishment decision caused reactions in the cryptocurrency market.
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