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Do Kwon released in Montenegro

South Korean crypto fugitive Do Kwon has been released from prison in Montenegro as the Supreme Court deliberates on extradition requests from the United States and South Korea. 

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South Korean crypto fugitive Do Kwon has been released from prison in Montenegro as the Supreme Court deliberates on extradition requests from the United States and South Korea. 

According to a Bloomberg report, he was released on Saturday, March 23. The Supreme Court halted the extradition of the Terraform Labs co-founder to South Korea, suspending a lower court’s ruling.

Kwon is currently facing fraud allegations in both South Korea and the U.S. stemming from the Terra collapse, which resulted in the loss of approximately $60 billion in market value in 2022. Prison director Darko Vukcevic reportedly said by phone.

The decision to release Kwon reportedly came from the Council of the Supreme Court, which is set to review a decision that could grant or deny extradition to his native South Korea. In South Korea, penalties are comparatively milder than in the U.S., where prosecutors seek to prosecute Kwon for the TerraUSD algorithmic stablecoin’s $40-billion collapse in 2022.

Kwon’s lawyer, Goran Rodic, also confirmed his release. According to state TV, Kwon’s passport has been held back to prevent him from leaving the country. Later on Saturday, Kwon was relocated to a shelter for foreigners, as reported by state TV, citing Rodic, who indicated plans to appeal to a court for Kwon to remain free until an extradition ruling.

The Supreme Court’s action followed a challenge by the chief prosecutor in the Balkan nation, who cited procedural errors in the rulings favoring South Korea’s request. Extradition to either country awaits further court deliberations, with no specified timeline provided after the announcement on Friday.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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