South Korea Coordinates With Interpol to Extradite Terra Founder Do Kwon

After Terra co-founder Do Kwon won an extradition appeal in a Montenegro court annulling his extradition to the United States, South Korea escalated the matter and started preparing for Do Kwon’s extradition to the country. The National Police Agency is coordinating with Interpol to extradite Do Kwon to South Korea.

Do Kwon’s Extradition to South Korea

National Police Agency communicated with the International Criminal Police Organization (Interpol) for Do Kwon’s extradition to South Korea, reported a local news agency on March 7.

South Korea’s National Police Agency said it has requested the Interpol Secretariat in the name of the Interpol National Central Secretariat of the Republic of Korea, hoping to get support at the Secretariat level.

“The Ministry of Justice’s International Criminal Division and the National Police Agency are working together to repatriate Mr. Kwon through the International Criminal Cooperation Channel and Interpol’s International Cooperation Line, respectively,” said officer Lee Yong-sang.

Terra’s token LUNA is not a security in South Korea as the Southern District Court in Seoul ruled that these tokens are not securities under the Capital Markets Act. However, a judge in the U.S. SEC vs Terraform Labs and Do Kwon lawsuit ruled that LUNA is a security. It has implications over the severity of punishment and imprisonment terms, as the U.S. seeks his extradition for fraud charges.

Also Read: Here’s Why AI Tokens FET, RNDR, NEAR & Others Are Rallying Today

Do Kwon Wins Appeal in Montenegro Court

The Appellate Court of Montenegro accepted the appeal of the defendant Do Kwon, annulling the earlier decision of the High Court to return the case to the first instance to the court for retrial and decision. Han Chang-joon, the former chief financial officer of Terraform Labs, has been extradited to South Korea after serving a prison sentence in Montenegro.

Meanwhile, the U.S. District Court for the Southern District of New York seeks Do Kwon’s presence in the U.S. as parties have agreed to a trial adjournment on March 25.

Also Read: Bitcoin (BTC) Price to Hit $300K in 2024, Predicts “Rich Dad Poor Dad” Robert Kiyosaki

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.