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Terraform Labs Chief Do Kwon Arrested by Police in Montenegro

1 min
Updated by boris.babichev
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In Brief

  • Do Kwon arrested at airport in Montenegro, according to Minister of the Interior.
  • Local publication Vijesti confirmed the news.
  • Kwon is accused of fraud and being responsible for the collapse of the $40 billion TerraLuna ecosystem.
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Do Kwon, the co-founder and CEO of Terraform Labs, has reportedly been arrested by police in Montenegro.

Kwon was stopped at Podgorica airport in possession of “falsified documents,” according to a tweet from Filip Adfzic, the country’s Minister of the Interior.

Do Kwon’s Run Ends?

The minister’s Twitter account is not verified, but the local publication Vijesti confirmed the news. Further, the Prime Minister of Montenegro, Dr. Dritan Abazovic, follows Adfzic.

In December last year, South Korean authorities reported that Kwon was hiding in Serbia. And today he was detained in Montenegro, the neighboring country of Serbia, located in Southeastern Europe.

He has been served with a red notice from Interpol, which means that governments are supposed “to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.”

Kwon has been missing since September 2022, but claimed on Twitter that he was not “on the run.”

He is accused of fraud and being responsible for the collapse of the $40 billion TerraLuna ecosystem by the governments.

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Harsh Notariya
Harsh Notariya is a journalist at BeInCrypto, who writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created educational reports on...
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