Do Kwon, a South Korean individual involved in the cryptocurrency industry, was recently released from prison in Montenegro. The Supreme Court is currently reviewing extradition requests from the U.S. and South Korea.

Kwon, who was initially detained for using fake documents, had his passport confiscated to prevent him from leaving the country. His lawyer plans to appeal to the court to allow him to remain free until a decision on extradition is made.

The Montenegrin Supreme Court intervened by suspending earlier extradition decisions, putting a halt to efforts to extradite Kwon to South Korea. Kwon is facing allegations related to the collapse of the TerraUSD (UST) stablecoin.

Following this news, the price of Terra (LUNA) surged by 20%, currently trading at around $1.10. This marks a significant increase over the past week and month. The trading volume also saw a substantial increase, indicating growing interest in the cryptocurrency.

The top prosecutor in Montenegro has raised concerns about procedural errors in the extradition requests, leading to further delays in the process. The Supreme Court has not provided a timeline for its final decision.

Stay updated with the latest news on Global Crypto News for more information on this developing story.

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