Foreign media: Do Kwon will be extradited to South Korea as early as March 24

Do Kwon, the founder of Terraform Labs, will be extradited to South Korea on March 24. The South Korean prosecutors who are investigating this case plan to transport and continue the investigation immediately after Do Kwon arrives in South Korea.

Do Kwon, who was sentenced to four months in prison in Montenegro for using a fake passport, will be released on March 23, and the extradition process will begin immediately after his sentence ends. The South Korean Ministry of Justice plans to discuss the specific extradition timetable and procedures as soon as it receives formal notification from the Montenegrin Ministry of Justice.

Currently, South Korean courts have not recognized the securities nature of virtual assets. If the court only recognizes it as a fraud, victims must directly file civil damage compensation claims against Do Kwon and others. However, if his behavior is recognized as securities-related crimes (violating the "Capital Market Act"), according to the Securities-Related Class Action Law, as long as one person wins the lawsuit, it will have a winning effect on all victims who did not participate in the lawsuit. (Korean Daily)

Yesterday, it was reported that the Montenegrin Court of Appeals rejected the appeal of Do Kwon, the founder of Terraform Labs, and plans to extradite him to South Korea.