Founder of Terra May Break New Years in South Korean History! Statement from the Attorney General’s Office!

in May of 2022 Terra-LUNA ecosystem suffered a major collapse and bitcoin caused the sudden and hard fall of all cryptocurrencies, including

BTC and the decline in the crypto market has caused retail investors to suffer huge losses, while crypto platforms with Terra investments are also on the verge of bankruptcy or have gone bankrupt.

Co-founder and CEO of Terraform Labs, who ran from May to last March Do Kwon He was caught and arrested in Montenegro on 23 March.

After his arrest in Montenegro, South Korean authorities demanded Do Kwon’s extradition.

However, the extradition process of Do Kwon, who was accused by Montenegrin prosecutors of forgery of official documents, has been extended.

Wall Street JournalSouth Korean prosecutors, who are investigating crypto entrepreneur Do Kwon, said that Kwon’s extradition to his home country cryptocurrency destroyed $40 billion from the market TerraUSD He said it would be the best way to bring justice to his investors.

in the news Dan Sung-han, Seoul Southern District Attorney’s Office, Terra said his co-founder Do Kwon should be extradited to South Korea instead of the United States.

Stating that he believes most of the evidence put forward against Do Kwon and Terra’s affiliates is true, Sung-han said that South Korean prosecutors and courts are well prepared for Do Kwon’s trial.

If Do Kwon is extradited to South Korea and found guilty at trial, he will likely be the first person in South Korean history to receive the longest prison sentence of more than 40 years for a financial crime.

Currently, South Korea and the United States are seeking the extradition of Do Kwon from Montenegro. However, there is still no decision on Kwon’s extradition.

*Not investment advice.