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Comment by proteal | Hacker News Reader

Well, the US dollar is an instrument to serve the interests of the US people. Many Americans were harmed by the collapse, so the government is going to try to claw back what it can for its people. After all, doesn’t matter where you are in the world, if you’ve got USD in your hands, you’re subject to US law.

Lawmakers/prosecutors do know that they are unlikely to recover a majority of lost funds. They’re going to put this man behind bars as a deterrent to others who want to (allegedly) defraud Americans.

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After all, doesn’t matter where you are in the world, if you’ve got USD in your hands, you’re subject to US law.

I hope this is meant sarcastically.

This is far more true than you know. Almost everyone in the west is subject to US law via our extra-territorial wire fraud or money laundering statutes that will get you as soon as anything ( read: most everything) you touch remotely touches the US banking system.

I'm aware of this, I'm trying to ascertain whether GP thinks this is great or not.

It’s absolutely true. Be careful out there.

Hmm same country which protects other countries criminals and gives a middle finger to other countrys laws

Do Kwon in bars makes zero material difference or deterrence to the next Do Kwon.

I understand the desire for justice, just sick of the government forcing me at gunpoint to pay to fly around these guys operating overseas stealing from people trying to operate outside the US financial system. Maybe they should take a charity donation for jailing foreign operating criminals and leave me out of it.

You don’t think “the US federal government will come after you if you conduct crime in USD and/or against Americans regardless of where you live/operate your business” is a real deterrent, as compared to “operate abroad and you can victimize Americans at will?”

What happens in reality is the US comes after me to pay to fly and feed these criminals, makes me pay for some prosecutor to get fat on steaks and braces on his kid, meanwhile I get basically fuck all for it other than to watch the next overseas crypto scammer take his place 5 minutes later.

I'm not saying you can't seek justice, i just want to be left out of it.

You pay taxes to the US but don’t benefit from the significant deterrent effect its law enforcement creates against scamming you?

How so?

What evidence do you have extradition of crypto scammers has moved the needle at all on scamming? I'm not seeing the benefit you speak of, a new one pops up 5 minutes later to replace the last.

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Oh man, the irony of this response. Do Kwon very specifically did NOT have USD in this situation, and I’m pretty sure his defense will be that there was no representation that the peg would be maintained indefinitely. Whether the evidence points to the contrary is another matter altogether.

>Do Kwon very specifically did NOT have USD in this situation

The indictment lists a bunch of ways that ties his crimes to the US

>KWON solicited and obtained investments from a number of investment firms in the United States and other locations [...]

>DO HYEONG KWON, the defendant, nonetheless fraudulently promoted Chai to investors in the United States [...]

>On or about October 12 , 2020, KWON sent an email to a representative of an investment firm based in New York containing a Terraform promotional document falsely claiming [...]

>On or about October 14 , 2019, KWON made a false and misleading statement during a CNBC presentation transmitted to, among other places, the Southern District of New York, about Chai 's usage of the Tena blockchain [...]

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