Do Kwon Extradition to South Korea More Probable Than US: WSJ

  1. South Korean lawyers believe they will get Do Kwon instead of the US.
  2. Kwon is still detained in Montenegro, where he was arrested after fleeing for almost a year.
  3. Celsius’ founder also blamed Kwon for the bankruptcy of the said crypto lending firm.

South Korean prosecutors are in the “best position” to hold Do Kwon accountable for his actions that led to the collapse of the Terra ecosystem, according to an article published by the Wall Street Journal (WSJ).

If South Korea succeeds at extraditing Do Kwon, prosecutors are planning to charge him with criminal cases that will lead to over 40 years of jail time. This, as per the article, will become the longest term for a financial crime in the history of the country.

At the moment, Kwon is in prison in Balkan state Montenegro, where he was caught earlier this year. Both South Korea and the United States are aiming to extradite him to their respective country to charge him with financial crimes.

Kwon, however, is a South Korean national, and a majority of the people who lost money during the Terra (LUNA) fiasco are South Koreans. Based on this, the head of the South Korean prosecution believes that they will get their hands on Kwon instead of the US.

It should be noted that there is very little chance that Terra victims will still get their money back, as the firm’s treasury appears to be beyond saving.

Kwon’s troubles may continue to escalate, as Celsius founder Alex Mashinsky is tagging him as one of the culprits of the bankruptcy of the crypto firm alongside former FTX CEO Sam Bankman-Fried (SBF).

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Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.