Do Kwon Finally Apprehended In Montenegro After Months Of Being On The Run

Do Kwon, the fugitive crypto boss responsible for the infamous collapse of the Terra (LUNA) ecosystem, was recently apprehended in Montenegro, according to South Korean police.

Earlier this year, US regulators charged Mr. Kwon and his company Terraform Labs with masterminding a multibillion dollar cryptocurrency asset securities fraud which led to a huge crash in the market.

Last September, South Korean authorities issued an arrest warrant for Mr. Kwon, believing Terraform Labs had breached capital market guidelines. They believed he was in Serbia and sent officials to Belgrade to negotiate, despite the fact that the two countries do not have an extradition treaty. According to Elliptic, investors in TerraUSD and LUNA lost an estimated $42 billion globally.

Do Kwon has repeatedly denied being in hiding but also never revealed where he was. The disgraced crypto executive was allegedly traveling under a false name and using forged documents. South Korean police confirmed Mr Kwon as the suspect in Montenegro on Friday after his fingerprints matched official records.