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World Business Report: First broadcast 24/11/2023 22:32 GMT : TerraUSD boss Do Kwon could face charges in US or South Korea

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TerraUSD boss Do Kwon could face charges in US or South Korea

First broadcast 24/11/2023 22:32 GMT 

First broadcast 24/11/2023 22:32 GMT : TerraUSD boss Do Kwon could face charges in US or South Korea

BBC World Service - World Business Report, TerraUSD boss Do Kwon could face charges in US or South Korea

A Montenegro court has approved the extradition of Do Kwon after fleeing

Do Kwon, the cryptocurrency boss behind the $40bn collapse of the TerraUSD and Luna tokens, will be extradited to the US or South Korea following a court ruling in Montenegro.

The entrepreneur behind the $40bn collapse of crypto token TerraUSD, Do Kwon could be extradited to the US or South Korea to answer fraud charges following a court ruling in Montenegro.

He sparked an international manhunt after fleeing an investigation in his native country of South Korea, following the sudden collapse of the TerraUSD and its sister token, luna.

He was caught as he tried to leave Podgorica airport on a Costa Rican passport and sentenced to four months in prison in Montenegro. Kwon is sought by both the US and South Korea on fraud charges.

So with the fall of another Crypto heavyweight, what does this do to the industry and should customers be concerned?

(Picture: In this photo illustration, a TerraUSD (UST) logo is seen on... Picture credit: Getty Images)

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First broadcast 24/11/2023 22:32 GMT : TerraUSD boss Do Kwon could face charges in US or South Korea

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