Extraditing Do Kwon: South Korea Calls On Interpol For Help

South Korea has intensified its actions to extradite Do Kwon, the CEO of Terraform Labs, back to its jurisdiction, as local South Korean media reports. This comes in the wake of a significant legal development in Montenegro where Do Kwon successfully appealed against his extradition to the United States, thereby redirecting the focus towards South Korea’s legal claim on him.

Extraditing Do Kwon To South Korea

The National Police Agency of South Korea has formally sought the assistance of the International Criminal Police Organization (Interpol) to facilitate the extradition of Kwon Do-hyung, saying, “We hope for interest and support at the Secretariat level so that the subject can be extradited to Korea.

How To Get Free Crypto  

This action follows the Montenegrin Court of Appeals’ decision which rejected the US extradition request based on the precedent of the request dates. South Korea had officially requested Kwon’s extradition on March 29, ahead of the United States’ request on April 3, establishing a legal precedent for Do Kwon’s extradition to South Korea.

The Ministry of Justice said, “We have not yet received official notification from Montenegro. Notification will come only when the repatriation decision is confirmed. The Ministry of Justice, Ministry of Foreign Affairs, and National Police Agency are working together to repatriate Mr. Kwon.”

Furthermore, Newsis revealed today that “the Ministry of Justice’s International Criminal Division and the National Police Agency are working together to repatriate Mr. Kwon through the international criminal cooperation channel and the Interpol international cooperation line, respectively,” said Lee Yong-sang, an officer specializing in international cooperation.

This development is part of the ongoing saga following the dramatic collapse of the Terra Luna, which resulted in significant financial losses worldwide, with the damage suffered by investors estimated at more than $40 billion.

Coinbase Banner  

Do Kwon, who had moved to Singapore just before the crash in April 2022, was arrested in Montenegro in March of the following year for using a fake passport. This arrest marked the beginning of an intricate legal battle involving multiple countries, each with its vested interest in prosecuting Kwon for his role in the Terra Luna debacle.

Interestingly, the legal status of Terra’s token LUNA varies between jurisdictions, with a South Korean court ruling that LUNA does not constitute a security under its Capital Markets Act, while a US court has ruled otherwise. This discrepancy highlights the complex legal and regulatory landscape that digital assets navigate, further complicating the extradition process and potential legal proceedings against Kwon.

Han Chang-jun, Chief Financial Officer (CFO) of Terraform Labs Korea, who was arrested in Montenegro as a close associate of Do Kwon was extradited to Korea on February 6 and is currently on trial.

As South Korea prepares for the possibility of repatriating Do Kwon, the global crypto community watches closely. The outcome of this case may set important precedents for the international regulation and prosecution of digital asset-related crimes, reflecting the growing need for cross-border cooperation and harmonization of legal standards in the digital age.

FreeBitcoin Banner  

At press time, the Terra Luna Classic (LUNC) price stood at $0.0001923.

LUNC price, 1-week chart | Source: LUNCUSD on TradingView.com

Featured image from BBC, chart from TradingView.com

Go to Source
Author: Jake Simmons

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.