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Montenegro’s Justice Minister Confirms Do Kwon Extradition Talks with SEC

Montenegro’s Justice Minister, Marko Kovač, has confirmed ongoing discussions with the U.S. Securities and Exchange Commission (SEC) regarding the extradition of Do Kwon, the co-founder of Terraform Labs. Kwon, who was arrested in Montenegro in March 2023, is facing multiple charges related to securities fraud in connection with the collapse of the Terra (LUNA) and TerraUSD (UST) cryptocurrencies.

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Montenegro’s Justice Minister, Marko Kovač, has confirmed ongoing discussions with the U.S. Securities and Exchange Commission (SEC) regarding the extradition of Do Kwon, the co-founder of Terraform Labs. Kwon, who was arrested in Montenegro in March 2023, is facing multiple charges related to securities fraud in connection with the collapse of the Terra (LUNA) and TerraUSD (UST) cryptocurrencies.

Minister Kovač stated that Montenegro is cooperating closely with international authorities to address the legal complexities surrounding Kwon’s extradition. “We are in active communication with the SEC and other relevant agencies to ensure that the legal processes are followed correctly and efficiently,” Kovač said.

Kwon’s arrest came after months of international manhunt operations, with multiple jurisdictions seeking his custody. The SEC has been particularly keen on extraditing Kwon to face charges in the United States, where he is accused of orchestrating a multi-billion dollar crypto fraud scheme that led to substantial investor losses.

The Terra ecosystem’s dramatic collapse in 2022, which saw the value of its tokens plummet, has led to significant legal scrutiny and numerous lawsuits. The SEC’s charges against Kwon include allegations of misleading investors and operating an unregistered securities offering. Kwon has consistently denied any wrongdoing, asserting that the collapse was due to market forces beyond his control.

Minister Kovač highlighted Montenegro’s commitment to upholding international law and facilitating justice. “Our objective is to ensure that Mr. Kwon faces the charges against him in a manner that is fair and just, respecting both Montenegrin and international legal standards,” he added.

The extradition process is expected to be complex, involving multiple legal frameworks and diplomatic negotiations. If extradited to the U.S., Kwon will likely face a high-profile trial that could set significant precedents for the regulation and oversight of the cryptocurrency industry.

Montenegro’s involvement in the case underscores its growing role in international legal cooperation and the global effort to tackle financial crimes involving digital assets. The outcome of Kwon’s case will be closely watched by regulators, legal experts, and the broader crypto community, as it could have far-reaching implications for the future of crypto regulation and enforcement.

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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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