Do Kwon could face 40 years in prison if prosecuted and found guilty by a court in his home country of South Korea.
Media reports confirmed that authorities in South Korea and the United States are contending over extradition rights after Montenegrin police arrested the Terraform Labs founder.
An investigator who has led the probe into how Terraform Labs collapsed opined that prosecuting Kwon in South Korea is “more efficient”.
Media reports confirmed that authorities in South Korea and the United States are contending for the right to extradite Do Kwon after Montenegrin police arrested the Terraform Labs founder in March.
Kwon’s extradition has been a talking point since his arrest in March. Montenegrin police seized the fugitive as he attempted to fly to Dubai using fake travel papers. U.S. authorities hope to prosecute the former Terraform investor for defrauding American investors who held LUNA and UST, two tokens designed by the founder and other employees.
Dan Sung-han who led South Korean efforts to uncover the factors behind Terra’s collapse, believes extraditing him to his native country would be the “more efficient” way to prosecute Do Kwon and deliver justice to Terra’s victims who lost at least $40 billion last May.
Given the nature of this incident, we think investigating the case in South Korea would be the most efficient way of bringing justice. We’ve collected a large swath of evidence pertaining to the TerraUSD case overall, much of which is information that cannot be easily obtained in the U.S.
“I believe the U.S. is willing to cooperate”, the South Korean investigator said, speaking to America’s request for Do Kwon’s extradition.
Montenegrin Prime Minister Dritan Abazovic said, “We are ready to make the extradition to the country which is looking for him”.