Do Kwon at the crossroads of extradition to South Korea or the U.S.; what about compensation for domestic victims?
With the arrest of Do Kwon (32), CEO of Terraform Labs and the main culprit behind the collapse of the Luna and Terra cryptocurrencies, both South Korea and the United States are competing for his extradition. The decision by Montenegrin judicial authorities is drawing attention, as the possibility of compensation for South Korean victims depends on which country Do Kwon is extradited to.
(omitted)
Attorney Pureun “Ian” Hong of Decent Law Firm, who specializes in cryptocurrency fraud, stated, "If the investigation or trial is led by South Korea, hidden funds could be uncovered, and the court may allocate them to domestic victims. If Do Kwon is brought to South Korea, the prosecution will likely take measures to preserve any criminal proceeds he has hidden. Once a final judgment is issued, the funds will be distributed to the victims, providing relief."
Hong added, "There is a possibility that Do Kwon could stand trial in the U.S. and then be extradited back to South Korea. However, the fact that the U.S. has also requested his extradition shows their intent to punish him. If he is prosecuted in the U.S. and then sent to South Korea, it may be too late. On the other hand, if he is extradited to South Korea first, it would make it more difficult to provide relief for U.S. victims."
