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Filip Adzic, Montenegro’s Minister of the Inside, tweeted that an individual suspected to be Do Kwon, a co-founder of Terraform Labs, was arrested on March 23 in Montenegro.
Adzic’s Twitter submit studies that Montenegrin police have detained what’s believed to be one of the crucial wished criminals, Do Kwon. Vijesti, a neighborhood information supply, has verified that the Twitter account, which launched the information, belongs to the Minister of the Inside and that the arrested particular person is a citizen of South Korea.
Based on the tweet, the previous “crypto king,” chargeable for losses exceeding $40 billion, was detained at Podgorica airport with solid paperwork. The officers are nonetheless awaiting official affirmation of his identification.
Do Kwon is at present wished by South Korea, the USA, and Singapore.
In December 2022, South Korean prosecutors claimed that Do Kwon was hiding in Serbia, the place there was no extradition treaty with South Korea. On September 26, 2022, Interpol launched a pink discover requesting the arrest of Kwon for his suspected involvement within the collapse of the Terra Luna (LUNC) and Terra USD (USTC) ecosystem. Final month, the SEC filed expenses towards Do Kwon, and the Division of Justice initiated its personal inquiry into the collapse of TerraUSD.
The collapse of Terra in Might 2022 was one of many largest cryptocurrency frauds in historical past.
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