<div class="textg"> Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" class="deco-link" rel="noopener noreferrer nofollow">website policy</a>&nbsp;prior to making financial decisions.
</div><p class="has-drop-cap">Several hours after Montenegrin Minister of the Interior, Filip Adzic, tweeted that Terraform Labs’ founder Do Kwon was arrested in the country’s capital, the police issued an official confirmation. A local outlet also <a href="https://www.pobjeda.me/clanak/jedan-od-najtrazenijih-svjetskih-bjegunaca-uhapsen-u-podgorici" class="deco-link" rel="noopener noreferrer nofollow">reported</a> that Kwon was arrested along with Hon Chang Joon, Terraform’s Chief Financial Officer.</p><h3 id="montenegrin-police-arrests-do-kwon-for-trying-to-cross-the-border-with-fake-documents">Montenegrin Police Arrests Do Kwon For Trying to Cross the Border With Fake Documents</h3><p>Around 2 PM, local time, the Montenegrin Minister of the Interior, FIlip Adzic, <a href="https://twitter.com/filip_adzic/status/1638886164118802432" class="deco-link" rel="noopener noreferrer nofollow">announced</a> on Twitter the arrest of a person believed to be Terraform Labs’ founder Do Kwon. A local report from later in the afternoon revealed that the police not only confirmed the arrestee is, indeed, Do Kwon, but that they have also detained another individual identified as the company’s CFO, Hon Chang Joon.</p><p>The two were detained while attempting to get on a flight to Dubai using fake Costa Rican documents. A search also uncovered falsified Belgian papers in the two fugitives’ luggage. Additionally, the police also seized three laptops and five mobile phones from the detainees. Additionally, the report indicates the two crossed the Montenegrin border illegally as there are no records of them entering the country.&nbsp;</p><p>While Montenegro doesn’t have an extradition agreement with South Korea, it is a signatory of the European Convention on Extradition meaning he will likely be delivered to the RoK. In late December, it was <a href="https://tokenist.com/do-kwon-resident-in-serbia-likely-to-challenge-extradition-report/" class="deco-link" rel="noopener noreferrer nofollow">reported that Do Kwon is hiding in Serbia</a>, a country that shares a border with Montenegro. It is likely that Kwon was able to cross the border due to the relatively porose borders between the countries.</p><div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img"><div class="cta-referral__text"><p>Join our&nbsp;<a href="https://t.me/thetokenist" rel="noopener noreferrer nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p></div></div><h3 id="the-year-long-search-for-kwon-ends-in-podgorica">The Year-Long Search For Kwon Ends in Podgorica</h3><p>Do Kwon is mainly sought after by the South Korean authorities due to his role in the catastrophic LUNA collapse that occurred in May 2022. The <a href="https://www.forbes.com/sites/qai/2022/09/20/what-really-happened-to-luna-crypto/#:~:text=The%20Luna%20crypto%20network%20collapsed%20in%20what's%20considered%20the%20largest,and%20the%20actual%20Luna%20coin." class="deco-link" rel="noopener noreferrer nofollow">calamity wiped out an estimated $60 billion</a> worth of investment and reportedly drove multiple people to suicide. The search for Do Kwon became international last September when <a href="https://www.nytimes.com/2022/09/26/business/interpol-do-kwon-korea-crypto.html#:~:text=Kwon%20was%20%E2%80%9Cobviously%20on%20the,will%20need%20to%20be%20repatriated." class="deco-link" rel="noopener noreferrer nofollow">Interpol issued a red notice</a> for his arrest.</p><p>South Korean authorities again escalated the manhunt in October by revoking Kwon’s passport. In November, they also came out with the <a href="https://tokenist.com/korean-prosecutors-claim-to-have-proof-do-kwon-manipulated-luna-prices/" class="deco-link" rel="noopener noreferrer nofollow">claim they have proof he manipulated the price of LUNA</a>. Throughout the period, Terraform’s former CEO gave several interviews and repeatedly <a href="https://twitter.com/stablekwon/status/1571197156907679745" class="deco-link" rel="noopener noreferrer nofollow">claimed he was neither on the run nor in hiding</a>.&nbsp;</p><p>In early 2023, nearly a year after the crash, the US Securities and Exchange Commission <a href="https://tokenist.com/sec-sues-do-kwon-and-tfl-for-crypto-fraud-9-months-after-40b-collapse/" class="deco-link" rel="noopener noreferrer nofollow">filed its complaint against Kwon and Terraform Labs</a> alleging they were guilty of orchestrating a multibillion-dollar cryptocurrency fraud. By early March, reports that the <a href="https://tokenist.com/doj-probing-do-kwon-jane-street-and-jump-over-luna-crash/" class="deco-link" rel="noopener noreferrer nofollow">DoJ is also currently investigating the company</a> and its CEO started emerging.</p><div class="cta-sub js__cta-sub"><div class="cta-sub__start"><div class="cta-sub__title"><strong>Finance is changing.</strong></div><div class="cta-sub__subtitle"> Learn how, with Five Minute Finance. </div><div class="cta-sub__excerpt"> A weekly newsletter that covers the big trends in FinTech and Decentralized Finance. </div> Try it out (for free) </div><div class="cta-sub__form"></div><div class="cta-sub__result"><div class="cta-sub__title"> Awesome </div><div class="cta-sub__caption"> You’ve subscribed. </div><div class="cta-sub__greeting"> You’re well on your way to being in the know. </div></div></div><p><strong><em>Do you think Montenegro will extradite Do Kwon to South Korea? Let us know in the comments below.</em></strong></p><p>The post <a href="https://tokenist.com/montenegrin-police-confirms-arrest-of-do-kwon-along-with-terras-cfo/" rel="noopener noreferrer nofollow">Montenegrin Police Confirms Arrest of Do Kwon Along With Terra’s CFO</a> appeared first on <a href="https://tokenist.com" rel="noopener noreferrer nofollow">Tokenist</a>.</p>

Montenegrin Police Confirms Arrest of Do Kwon Along With Terra’s CFO

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