Timeline of Do Kwon’s Legal Troubles
Do Kwon, a South Korean national implicated in a $40 billion crypto fraud, faced legal challenges starting with the collapse of TerraUSD and Luna in May 2022, leading to significant investor losses. He was arrested in Montenegro in March 2023 for traveling with forged documents and received a four-month prison sentence. The extradition battle between the U.S. and South Korea ensued, with Montenegro initially siding with the U.S. but later approving his extradition to South Korea in March 2024.
Do Kwon’s Criminal Charges and Settlement
In addition to extradition battles, Do Kwon and his company Terraform Labs were found liable for civil fraud by a New York jury in April 2024, resulting in a $4.5 billion settlement with the SEC. Despite this settlement, U.S. authorities are still pursuing criminal charges against Kwon.
Future Prospects for Do Kwon
As Do Kwon awaits extradition to a facility for foreigners near Podgorica, the possibility of further appeals or decisions looms. RadioFreeEurope reporting contributed to this news.
