Terra Classic Token Spikes After Terraform Labs Co-Founder Do Kwon Extradited To The US From Montenegro

Terra Classic (CRYPTO: LUNC), the native token of the Terra ecosystem, rallied on New Year’s Day amid disgraced co-founder Do Kwon’s extradition from Montenegro to the U.S.

Kwon, co-founder of Terraform Labs, has been extradited from Montenegro to the United States. Kwon is facing charges in the U.S. for allegedly misleading investors about the stability of the TerraUSD cryptocurrency.

What Happened: LUNC surged over 4% in the last 24 hours to a market capitalization of $620 million. The coin’s trading volume jumped 30.68% to $42.22 million, implying significant buying interest.

The rally came after fugitive cryptocurrency …

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