Extradition of Do Kwon, 'the cryptocurrency king,' from Montenegro to South Korea

SOURCE www.foxnews.com
An appeals court in Montenegro confirmed that South Korean mogul Do Kwon, known as 'the cryptocurrency king,' will be extradited to South Korea instead of the U.S. Kwon faces fraud charges in connection with a $40 billion crash of Terraform Labs' cryptocurrency.

Key Points

  • Do Kwon faces fraud charges in connection with a $40 billion crash of Terraform Labs' cryptocurrency
  • Kwon was arrested in Montenegro and will be handed over to South Korea for prosecution
  • The decision to extradite Kwon was confirmed by the Appeals Court of Montenegro

Pros

  • Justice being served by extraditing Do Kwon to face charges in South Korea
  • Prevention of further fraud and financial crimes in the cryptocurrency industry

Cons

  • Loss of freedom for Do Kwon as he faces extradition and potential imprisonment
  • Negative impact on retail investors who were affected by the $40 billion crash of Terraform Labs' cryptocurrency