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- Do Kwon’s troubles persist, as the Terraform Labs founder has reportedly been detained by the Montenegrin police, in the country’s capital Podgorica.
- Do Kwon has been wanted by authorities in South Korea, after the widely reported downfall of Terra (LUNA) which notably lost its whopping $40 billion market value.
The woes of Terra’s Do Kown have only persisted since the downfall of Terra. Things are starting to get worse for Kwon, who has not only been endlessly critiqued by the entire cryptocurrency community, and former LUNA investor, Do Kwon has now been arrested at Montenegro.
While it was first unsure who was arrested, one of the country’s ministers has implied that the identity of the arrested person, might match that of Do Kwon, the founder of Terraform Labs.
Filip Adzic, a Montenegrin politician, who currently holds the position as the Minister of the Interior of Montenegro, took to Twitter to inform his 1,000+ followers about the new development.
In his Twitter post, Adzic noted that Do Kwon is one of the world’s most wanted fugitives, who was arrested in Montenegro’s capital Podgorica. He wrote in the tweet:
ONE OF THE WORLD’S MOST WANTED FUGITIVES WAS ARRESTED IN PODGORICA. 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.
U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACA
Crnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni direktor Terraform Labs sa sjedištem u Singapuru.
1/2— Filip Adzic (@filip_adzic) March 23, 2023
Minister Adzic noted that although Do Kown is wanted by three different countries, an official identity confirmation is first needed
In a follow-up tweet, Adzic stated that Do Kown is behind the loss of $40 billion, which was the estimated value of the altcoin Terra (LUNA), the cryptocurrency backed by Do Kwon’s Terraform Labs.
It was also noted that the Terre founder who was detained at the airport was seen with documents that are believed to be falsified. The minister also noted that South Korea, Singapore, and the United States, are all demanding Do Kwon. According to Adzic, the country is currently awaiting official confirmation of Do Kwon’s identity. The minister said in his follow-up tweet:
The former “cryptocurrency king”, who is behind losses of more than 40 billion dollars, was detained at the Podgorica airport with falsified documents, and South Korea, the USA and Singapore are demanding the same.
We are waiting for official confirmation of identity.
It is worth noting that Kown is not the only one wanted by South Korean authorities. Five others who are said to have been involved with Terraform are also wanted for fraud.
Prior to his recent arrest in Podgorica, South Korea had reached out to Interpol back in September of 2022 and put out a red notice for Kwon. The red notice was shared amongst all interpolation member nations, to search for Known and arrest him.
