Kwon was arrested in Podgorica, the capital of Montenegro, according to a tweet by the countrys minister of interior.
U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACA
Crnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni direktor Terraform Labs sa sjedištem u Singapuru.
Filip Adzic (@filip_adzic) March 23, 2023
1/2
In Bosnian, the minister, Filip Adzic, wrote that the disgraced crypto founder was detained at the airport in possession of falsified documents, adding that the authorities were waiting for official confirmation of Kwons identity. South Korean news agency Yonhap reported that police confirmed the suspects passport name, age, and birth country match those of Kwon.
The failure of Terraform Labs algorithmic stablecoin TerraUSD and sister cryptocurrency Luna destroyed tens of billions of dollars in value.
In September, prosecutors in Kwons native South Korea issued an arrest warrant alleging that he violated the nations financial laws. Interpol also issued a red notice at that time, putting international law enforcement on alert to arrest Kwon. South Korea also threatened to void his passport.
After the warrant and notice were issued in September, Kwon disappeared. The crypto founder said on Twitter at the time that he was not on the run or anything similar, adding that we dont have anything to hide.
Later reports placed Kwon in Serbia, and South Korean prosecutors did not deny the speculation. Serbia borders Montenegro to the northeast.
In February, the Securities and Exchange Commission charged Do Kwon and Terraform Labs with defrauding investors, claiming he helped orchestrate a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.
