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Terraform Labs Co-Founder Do Kwon Arrested in Montenegro, Says Interior Minister

According to Montenegro’s interior minister Filip Adzic, Terraform Labs co-founder Do Kwon was apprehended at Podgorica airport allegedly bearing falsified documentation. Adzic added that investigators are “waiting for official confirmation of his identity” after Montenegrin police detained the accused suspect.

Terra Co-Founder Reportedly Arrested in Montenegro at Podgorica Airport With False Documents

Terraform Labs co-founder Do Kwon has reportedly been arrested in Montenegro, according to the country’s interior minister Filip Adzic. The Montenegrin official shared two tweets on Thursday just before 9 a.m. Eastern Time.

“In Podgorica, one of the most wanted world fugitives was arrested,” Adzic stated. “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 Terraform Labs based in Singapore,” the interior minister added.

Do Kwon, who was recently sued by the U.S. Securities and Exchange Commission and his firm Terraform Labs, has reportedly been hiding for some time. Some suspected Kwon was hiding in Singapore, while others thought the Terraform Labs CEO was in Dubai. Some reports suggested Kwon was in Serbia. The SEC accuses Kwon and Terraform Labs of committing a multibillion-dollar fraud operation and selling unregistered securities.

“The former ‘king of cryptocurrencies’, who is behind losses greater than 40 billion dollars, was detained at Podgorica airport with forged documents and is sought by South Korea, the United States, and Singapore,” Adzic further explained on Twitter. “We are waiting for official confirmation of identity,” the Montenegrin politician added.

The Montenegrin government and interior minister Filip Adzic have yet to confirm the true identity of the arrested individual. This story is still developing and will be updated with any official confirmations of the identity of the person detained in Montenegro.

Tags in this story
Alleged Arrest, Alleged Detainment, Arrest, do kwon, Do Kwon Terra, false documents, Filip Adzic, fugitive, identity confirmation, Interior Minister, Montenegro, Podgorica airport, South Korean citizen, Terra, Terra Blockchain, Terra co-founder, Terra Do Kwon, terraform labs, tweets

What are your thoughts on the recent arrest of Terraform Labs co-founder Do Kwon in Montenegro? Share your opinions in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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