The former head of the platform was also wanted by Interpol for his role in the $40 billion collapse of the Terra Luna ecosystem in May 2022.
On March 23, a person suspected of being Terra Luna co-founder Do Kwon was arrested in the Balkan nation, according to a post by Filip Adzic , the Minister of the Interior of Montenegro.
Since the first announcement, local news portal Vijesti has confirmed that the Twitter account that posted the announcement is from the Ministry of the Interior of Montenegro and that the arrested person is a South Korean national.
"Montenegro police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs."
Adzic said that a person with "false documents" suspected of being the former "cryptocurrency king" was detained at Podgorica airport. Authorities are awaiting official confirmation of his identity.
Since December 2022, South Korean prosecutors claim that Do Kwon is hiding in Serbia. However, the country does not have an extradition agreement with South Korea.
On September 26, 2022, Kwon was also added to Interpol's wanted list, who allegedly played a large role in the collapse of the $40 billion Terra Luna and Terra USD ecosystem in May 2022.
The fallen leader was also wanted by regulators in South Korea, Singapore and the United States.
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