Crypto Fugitive Do Kwon CAUGHT: Terra Luna Founder Reportedly Captured In Montenegro

Zinger Key Points
  • Do Kwon was reportedly arrested with fake documents at Podgorica airport.
  • South Korea, the U.S., and Singapore are seeking Kwon's extradition.

Minister of the Interior of Montenegro, Filip Adzic, on Thursday, announced the arrest of an individual suspected to be Do Kwon, co-founder of Terra Luna LUNA/USD, within the Balkan nation's borders.

Local news outlet Vijesti later confirmed the tweet's authenticity and that the arrested person was a South Korean national.

"The former 'crypto king,' responsible for losses exceeding $40 billion, was arrested at Podgorica airport with fake documents," stated Adzic.

"He is wanted by South Korea, the United States, and Singapore. We are waiting for official confirmation of his identity," the minister further said.

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Since December 2022, South Korean prosecutors have been alleging that Kwon was hiding in Serbia, which has no extradition agreement with South Korea.

On Sep. 26, last year, an Interpol red notice was issued for his arrest due to his alleged role in the collapse of the $40 billion Terra Luna and Terra USD ecosystem in May 2022.

Kwon is also wanted by regulatory authorities in South Korea, Singapore, and the United States.

The arrest took place in Montenegro, which is geographically located south of Serbia and shares borders with the country.

The investigation is ongoing, and more details are expected to emerge in due course.

Terra blockchain's native Luna tokens fell 4.12% following reports of Kwon's arrest, however, Luna Classic LUNC/USD tokens were down just 1.8% at the time of publication.

Read next: SEC Targets Coinbase With Wells Notice And Threatens Enforcement Actions, CEO Brian Armstrong Fights Back

Photo: Unsplash

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Posted In: CryptocurrencyNewsMarketsArrestDo KwonextraditionInterpolMontenegroSingaporeSouth KoreaUnited States
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