Crypto fugitive Do Kwon faces US and South Korean charges. Who gets him first?

Kwon (centre) is taken to court after being arrested at the airport on March 24, 2023 in Podgorica. US and South Korean prosecutors have both said they will request Kwon’s extradition. — AFPp

Terraform Labs Pte co-founder Do Kwon is in a jail in Montenegro, but his ultimate destination will likely be the US or South Korea. Both countries have charged him in connection with an alleged cryptocurrency fraud that wiped out US$40bil in market value.

But which country will get first crack at the TerraUSD creator? US and South Korean prosecutors have both said they will request Kwon’s extradition. Montenegro’s justice minister, Marko Kovac, said on March 29 a judge would decide how to proceed.