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The US and South Korea are demanding the extradition of Terra boss Do Kwan

The US and South Korea are demanding the extradition of Terra boss Do Kwan

Both U.S. and South Korean officials reportedly made requests to the Terra boss Du Quan After being arrested in Montenegro, they will be extradited to their respective countries.

As from a relative Press conference On March 29, Montenegrin Justice Minister Marko Kovac revealed that both the United States and South Korea had taken diplomatic steps to extradite Kwon. Kovac also announces that Terra-Chef’s pre-trial detention has been extended for another 30 days since his arrest at Podgorica Airport on March 23.

“If we receive multiple extradition requests, our decision-making will depend on a variety of factors, including the seriousness of the criminal offenses, the time and place of the criminal offenses, the timeline in which we received the requests, and many other factors.” , Kovac explains through his translator.

All other questions about Kwon’s pre-trial detention in Montenegro will be clarified in court. According to the justice minister, the Terra boss used a fake passport while in Montenegro and could be sentenced for this violation and jailed before extradition.

After the collapse of once-influential crypto project Terra (Luna) in May 2022, Kwon’s whereabouts were unknown, although he took to social media to say he was “not in hiding”. Rumors began to surface in February that Kwon may have fled to Serbia, a theory now confirmed by Montenegro as a neighboring country.

Kwon, a South Korean citizen, faces criminal charges in his home country as investigations are already underway against his company, Terraform Labs, and the remaining employees and directors. While Terra co-founder Daniel Shin is still on the run, Kwon’s business partner Han Sang-joon was arrested with him in Montenegro.

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It is not yet clear which country is most likely to be extradited. The situation bears a certain similarity to the efforts of the United States in the case of FTX, since its boss Sam Bankman-Fried (SPF) was transferred from the Bahamas – where the crypto trading platform is based – to the United States relatively late.