Alleged $40 billion crypto fraudster Do Kwon stated to be arrested in Montenegro

Do Kwon, the founding father of Terraform Labs and creator of the collapsed stablecoin Terra, has been arrested in Montenegro, which was first reported by way of social media posts by Montenegro Minister of the Inside Filip Adzic on Twitter (the place he’s unverified, whether or not by Twitter Blue or legacy means), and on Facebook (the place he’s verified, however Fb’s blue checks have been mistaken earlier than).

Yonhap News in Korea reviews police are ready for fingerprint affirmation that the particular person arrested is definitely Do Kwon.

Final yr, the collapse of the Terra / Luna algorithmic stablecoin ecosystem was one of many early occasions within the trade’s slide, which the SEC alleges constituted an enormous fraud that evaporated over $40 billion in worth. There have been reports Interpol issued a “red notice” for Kwon, as prosecutors within the US and South Korea sought to have him arrested regardless of Kwon’s tweets claiming “I’m not ‘on the run’ or something comparable.”

In accordance with Yonhap Information, Korean police made a press release concerning the arrest, saying, “We checked the age, nationality, and title with the identification card the particular person had, and confirmed that he was the identical particular person as CEO Kwon with picture information.”