Terra

Do Kwon, co-founder of Terraform Labs, has reportedly been arrested in Montenegro. Kwon has been on Interpol and South Korean authorities&rsquo; radar for his alleged involvement in the collapse of the Terra ecosystem. 
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.

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&rsquo;s red notice came only weeks after a court in South Korea issued an arrest warrant for the founder, alleging that he violated the Capital Markets Act.
Montenegro is geographically south of Serbia and shares a border with the Balkan nation. In December, it was reported that Kwon was hiding in Serbia. Serbia and South Korea do not share an extradition treaty. At the time, prosecutors indicated that Kwon fled to Dubai as a stopover after he exited Singapore.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Terraform Labs Co-Founder Do Kwon Arrested in Montenegro

Crypto Daily™

Andere artikelen gepubliceerd op 23 mrt 2023

Why The Crypto Market Is Down Today: 3 Key Factors Explained

Block Responds to Hindenburg’s Allegations, Will Explore Legal Action

How Can Game NFTs Help Strengthen Your Characters?

Watch, Play, And Earn With Vivi: The Future of Social Media | Gabbar Press Release

Ripple vs SEC Case, Going to End Positively for Ripple?

Analysis of Coinbase Layer 2 network Base and OP Stack

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!