• Do Kwon, co-founder of Terraform Labs has been arrested in Montenegro.
• Interpol and South Korean authorities were on the hunt for Kwon for his alleged role in the collapse of the $40 billion Terra Luna (LUNC) and Terra USD (USDT) ecosystem in May 2022.
• Montenegro is geographically south of Serbia and shares a border with the Balkan nation.
Background
Do Kwon, co-founder of Terraform Labs, has reportedly been arrested in Montenegro. Kwon has been on Interpol and South Korean authorities‘ radar for his alleged involvement in the collapse of the Terra ecosystem.
Arrest
The Minister of the Interior of Montenegro, Filip Adzic, announced in a post that an individual suspected of being Do Kwon had been arrested in the Podgorica region on March 23. Following the announcement, local media outlet Vijesti confirmed that the Twitter account that posted the news belonged to the minister of interior of Montenegro. The person arrested was a South Korean national. Adzic tweeted: „Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.“
Wanted Man
Kwon was reportedly detained at the Podgorica airport with falsified documents. The International Criminal Police Organisation (Interpol) and South Korean authorities were on the hunt for Kwon for his alleged role in the collapse of the $40 billion Terra Luna (LUNC) and Terra USD (USDT) ecosystem in May 2022. Kwon became an internationally wanted man when Interpol issued a red notice on him in September. Interpol’s red notice came only weeks after a court in South Korea issued an arrest warrant for him alleging violation to Capital Markets Act.
Refugee Status
Montenegro is geographically south of Serbia and shares a border with Balkan nation Serbia who does not share an extradition treaty with South Korea at present time due to which it was reported that Kown fled to Dubai as a stopover after he exited Singapore.
Disclaimer
This article is provided for informational purposes only and not intended to be used as legal, tax, investment or financial advice