Crypto mogul Do Kwon wants to be extradited to South Korea

Do Kwon is expecting to be extradited to the United States, the least palatable option for the disgraced crypto boss

Co-founder of Terraform Labs Do Kwon has his lawyers fighting for extradition to his homeland instead of across the Atlantic Ocean – he is wanted by both the South Korean and US governments.

Kwon, who is currently in custody in Montenegro, was apprehended several months ago after spending considerable time on the run and denying culpability in the collapse of Terraform Labs, a crypto project gone awry.

Yet, governments have taken a dim view of his pleas, and are now looking to put Kwon on trial. He won’t be the first crypto boss to have come under serious legal fire.

Sam Bankman-Fried, the former boss of FTX, is serving a 25-year sentence and Binance CEO, Changpeng Zhao, has pled guilty in the US on federal charges, and is awaiting sentencing which could easily see him serve up to 20 months in prison.

Kwon wants to make sure that he avoids prison sentence in the US, and has petitioned his legal team to do everything they can to move him to South Korea instead. A decision to grant the US wish and extradite the man overseas has already been granted, but the legal team is contesting the April 8 high court decision in Montenegro, alleging that it is “unfounded and illegal”.

The onus is now on the country’s justice minister, who will have to decide if Kwon is to be tried at home or in the US. Terraform Labs sent market shocks across the crypto ecosystem after the TerraUSD and Luna coins hit practically zero and left investors short of billions worth of hard currency.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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