Per a report from Bankless, Terra (LUNA) co-founder Do Kwon was allegedly arrested in the region of Podgorica, Montenegro. South Korean authorities and the International Criminal Police Organization (Interpol) were on the hunt for Kwon for his alleged involvement in the collapse of the Terra ecosystem.
According to the report, Do Kwon was allegedly detained at the country’s airport. The crypto founder had falsified documents.
LUNA’s price trends to the downside on the daily chart. Source: LUNAUSDT Tradingview
As Bitcoinist reported in February, South Korean authorities chased Kwon from several countries in Asia and then Europe. The crypto founder moved from Singapore as authorities in the country joined the manhunt.
The South Korean law enforcement delegation requested assistance from the Serbian government. These efforts finally led to his alleged capture in the neighboring country of Montenegro. Do Kwon lived in Serbia since December 2022.
As the news developed, Filip Adzic, Minister of Interior Montenegro, confirmed the operation and subsequent capture. Via his official Twitter account, Adzic wrote:
Montenegrin police have arrested a person suspected to be one of the most wanted fugitives, a South Korean citizen named Do Kwon, co-founder and CEO of Terraform Labs based in Singapore. The former “king of cryptocurrencies”, who is responsible for losses of over $40 billion, was detained at Podgorica airport with fake documents and is sought by South Korea, the United States, and Singapore. We are waiting for official confirmation of the identity.
On several occasions, Kwon denied that he was on the run, denied the charges against him, and his participation in a fraudulent scheme involving LUNA and algorithmic stablecoin UST.
In September 2022, Kwon stated via Twitter:
I am not “on the run” or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide. We are in the process of defending ourselves in multiple jurisdictions – we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.
SEC lawyers previewed a likely appeal to overturn portions of last week’s Ripple Labs in a separate enforcement case against TerraUSD and Luna creators Do Kwon and Terraform Labs.
TheBlockHe also asserted that the person he was caught with was innocent.
cryptopotatoKwon’s attorneys will seek to reduce the 30-day detention extention period ruled by the Montenegrin authorities.
cryptopotatoTerraform Labs is headquartered and registered in Singapore and this is the first time the country has publicly taken action against Do Kwon and his firm.
CryptoSlateAfter recently entering Serbia, Terra founder Do Kwon transferred 9.64 BTCS (then worth nearly $190,000) from the LFG wallet to the Binance wallet on November 8. This is the first time that on-chain data has captured Do Kwon's exchange of bitcoins for cash, such as dollars, while he was on the run.
OthersLUNC has bounced at the $0.000275 support area. LUNA has decreased by 66% since Sept. 9.
BeincryptoWhile Tornado Cash developers are fearing for their lives, Do Kwon is "partying," according to podcaster Eric Conner.
CointelegraphA new Anonymous video surfaced and it points its finger at the infamous Do Kwon. The Terra/ UST/ LUNA collapse ...
BitcoinistDo Kwon's co-founder and CEO of TerraForm Labs recently announced the Terra revival plan and received mixed reactions; many of ...
BitcoinistSouth Korea's national tax authority imposed a fine of 78 million U.S. dollars (about 100 billion won) on charges of tax evasion.
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