Key Points
- Justice would be served best in Do Kwon home country, says a South Korean prosecutor
- Kwon may face up to 40 years imprisonment if found guilty
The Montenegro arrest of Do Kwon, the CEO and co-founder of the collapsed Terra-Luna has unleashed a jurisdictional battle between the US and South Korean prosecutors. Will Kwon end up in the US or South Korean prison if found guilty?
South Korean Prosecutors Want Do Kwon Extradition to Home Country
Since the arrest of the Terra CEO in March, there have been jurisdiction battles between the US and South Korea about who will serve justice to Terra-Luna collapse victims.
According to a Friday report by WSJ, the South Korean head of prosecutors probing Terra’s case has demanded that the controversial CEO of Terra be extradited to the country, adding that justice would be best served in Kwon’s home country, compared to the US.
“Extraditing him to his native country would be the best way to bring justice to victims of the TerraUSD cryptocurrency crash, which wiped out some $40 billion from digital currency markets,” WSJ noted in the report.
In May 2022, a shock wave was sent across the crypto world after $40 billion was wiped out of the crypto market in the collapse of Terra and its entire ecosystem.
If Kwon is extradited to either the US or South Korea and eventually found guilty, he is likely to be sentenced to 40 years in prison as justice for the victims of the collapsed Terra-Luna.
Meanwhile, the Montenegrin Minister of Justice noted in a press conference that several factors would determine Kwon’s extradition, factors such as the severity of Kwon’s offense, also, the location and time of the crime will be part of the determinants.
With the look of things, the US may likely be the winner of Kwon’s case jurisdiction battle, this is because Montenegro reportedly has no extradition treaty with either South Korea or Singapore, but has reportedly extradited a criminal to the US in the past.
Are you a Terra victim? Where exactly would you prefer Kwon be prosecuted? Comment your opinion below.
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