Do Kwon Faces Potential Second Trial in South Korea Following US Sentencing

Terraform Labs co-founder Do Kwon may confront another legal battle in South Korea after receiving a 15-year prison sentence in the US for his role in the $40 billion collapse of TerraUSD. The Manhattan federal court's decision, delivered by Judge Paul Engelmayer, underscored the unprecedented scale of harm caused by Kwon's actions.

South Korean prosecutors are preparing separate charges that could extend Kwon's imprisonment beyond 30 years. With approximately 200,000 domestic investors suffering losses exceeding $204 million, authorities argue local prosecution WOULD best serve justice for affected parties. The case has been pending since 2022 when Seoul issued an arrest warrant through its financial crimes unit.

While ten alleged accomplices have already faced trial in Korea, Kwon's potential transfer remains contingent on serving at least half his US sentence. The dual legal proceedings highlight the global ramifications of cryptocurrency fraud and the increasing coordination between international regulators.