A person suspected to be Do Kwon, the founder of the popular Terra Luna Stablecoin which collapsed in May of last year, has been arrested in Montenegro, media reports said. According to the report, South Korean police are awaiting confirmation from local authorities in Montenegro after requesting fingerprints for identification.
This piece of information comes after a tweet was posted by the Interior Minister, Filip Adzic, in which he stated that a man by the name of Do Kwon had been detained at the airport in the capital city of Podgorica.
The collapse of TerraUSD marked the first of many crises that plagued the crypto markets in 2022, including the bankruptcies of Celsius, a crypto lender, and FTX, a major exchange.
Following the collapse of UST, a South Korean court issued an arrest warrant for Kwon, a Korean national, for violating capital markets laws. To locate Kwon, Korean prosecutors reportedly traveled to Serbia in February, which shares a border with Montenegro.
Kwon has been accused by the United States (U.S) Security and Exchange Commission (SEC) of failing to provide truthful information to digital asset regulators as requested, according to a report by the Block last month. The accusation stemmed from the Kwon’s failure to produce evidence to the public, as required by the regulators.
