Sadly after Do Kwon was caught earlier this year, my nickname of "Run, Run" does not really seem to fit anymore. So I am trying a new one, let me know what you think of it. And it seems that this time Do Kwon has gotten caught a second time, this time in a tug of war between South Korea and the US.
Pull harder dam it
After getting caught in Montenegro earlier this year with fake papers. It was really only a matter of time, before every country whose people were affected by the collapse of the Terra blockchain. And its $UST and $LUNA tokens, assets totaling around $40 billion were wiped out in a day or two. Where to lay claim to Do Kwon. Trying to get him extradited to their country to face justice.
Given the nature of this incident, we think investigating the case in South Korea would be the most efficient way of bringing justice
Said Dan Sung-han, leader of the Korean team investigating the events that transpired. The charges brought against Do Kwon and his collaborators face charges for fraud, violations of capital-markets laws, using “trader bots” to manipulate transaction volumes, bribery and a series of other financial crimes. If brought to justice it is very likely Do Kwon will enter the history books again. This time for the longer jail time for financial crimes in Korea. A Record I at least hope he will hold on to for a very,m very long time.
While across the ocean in the US. The charges brought against Do Kwon are criminal fraud charges in the United States from both federal prosecutors in New York as well as a civil lawsuit by the Securities and Exchange Commission (SEC).
Who do you think will win?
To me at least it looks like Korea has the stronger case. Seeing Do Kwon is a Korean native. And Terra at least partially operated from Korea, as well as Terra targeting the Asian market directly, while only indirectly targeting the US. Which I assume is due to the regulations hoops and hurdles.
At least from the looks of things Do Kwon appear to have a preferred winner in the tug of war. As his lawyers are currently lobbying against the US, citing the indirect nature mentioned above. As well as the unregulated nature of cryptocurrencies with the SEC. Well at least unregulated for now. =(
Who do you think will win the tug of war over Do "Run no More" Kwon? Is it the same country as you hope will win? Please share your thoughts on this global tug of war down below in the comment section. If you would like to support me and the content I make, please consider following me, reading my other posts, or why not do both instead.
See you on the interwebs!
Picture provided by: https://pixabay.com/, fair use
