In a major development in the Terra Luna coin crisis, a person presumed to be the CEO of Terraform Labs, Kwon Do-hyung (32), has been arrested in Montenegro.
According to Yonhap News Agency (YNA), the South Korean police have confirmed the age, nationality, photo, and name through the person’s ID cards, and have requested Montenegro to provide fingerprint information to confirm whether he is actually Do Kwon.
The National Police Agency has announced that the person presumed to be CEO Kwon and an aide named Han were arrested by the Montenegrin authorities and are currently being identified. The police are waiting for a reply from Montenegro to confirm whether this person is actually CEO Kwon.
An official from the National Police Agency stated that they had checked the person’s age, nationality, and name with the identification card he had, and confirmed that he was the same person as CEO Kwon with photo data. The police are now waiting for the fingerprint information to further confirm his identity.
The Terra Luna coin crisis, which erupted last year, involved a massive price drop in the cryptocurrency, causing huge losses for investors. Terraform Labs, which is behind the Terra project, has been accused of manipulating the coin’s price to benefit insiders. The arrest of the person presumed to be Do Kwon is seen as a major development in the ongoing investigation into the crisis.
The South Korean police have been investigating the case for several months and have already arrested several executives of Terraform Labs, including the head of the company’s Seoul office. The arrest of the person presumed to be Do Kwon is expected to provide further clues into the Terra Luna coin crisis and shed more light on the alleged price manipulation by the company.
The arrest of the person presumed to be Do Kwon in Montenegro is a significant development in the ongoing investigation into the Terra Luna coin crisis. The South Korean police are expected to continue their investigation and bring those responsible for the alleged price manipulation to justice.
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This article was republished from azcoinnews.com
