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Prosecutor Says Terra-Luna Fugitive Do Kwon Should Face Trial in South Korea

The prosecutor leading South Korea's investigation into the collapsed Terra-Luna crypto project has called for the extradition of its founder, Kwon Do-hyeong, to Seoul to face trial. Kwon is currently detained in Montenegro for allegedly travelling on a forged passport, and both South Korea and the US have requested his extradition to face charges related to the collapse of his $40 billion crypto empire. Terra's USD stablecoin and sister cryptocurrency Luna collapsed in May 2022, and both South Korean and US prosecutors say the crypto project was designed to defraud investors and violated financial laws in both countries. If convicted, Kwon may face over 40 years in prison, which would be the longest sentence ever in the country for a financial crime. (forkast)

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