{"id":260,"date":"2023-03-24T09:42:00","date_gmt":"2023-03-24T09:42:00","guid":{"rendered":"https:\/\/themontenegrotimes.com\/?p=260"},"modified":"2023-11-24T12:12:42","modified_gmt":"2023-11-24T12:12:42","slug":"do-kwon-arrest","status":"publish","type":"post","link":"https:\/\/themontenegrotimes.com\/do-kwon-arrest","title":{"rendered":"Authorities capture fugitive Terra founder"},"content":{"rendered":"\n
Do Kwon, a globally sought-after fugitive and former digital asset entrepreneur, has been apprehended in Montenegro. Authorities arrested Kwon as he was attempting to board a flight to Dubai. South Korean<\/a> law enforcement promptly verified his identity following the arrest.<\/p>\n\n\n\n Kwon is known as the founder of Terraform Labs, the company behind the Terra ecosystem, featuring the LUNA<\/a> token and the UST stablecoin. The dramatic collapse of these two tokens in May of the previous year inflicted a $40 billion loss on investors and triggered a broader market downturn. Since then, he has been evading authorities\u2014though he has denied it\u2014while facing pursuit by law enforcement agencies in his home country of South Korea, as well as in Singapore<\/a>, Europe, and the United States.<\/p>\n\n\n\n Almost a year following the collapse of Terra, Kwon has now been apprehended in Montenegro. The country’s Minister of Interior, Filip Ad\u017ei\u0107, made the initial announcement<\/a> of the arrest on social media.<\/p>\n\n\n\n “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 Singapore-based Terraform Labs. The person is suspected of being one of the most wanted fugitives,” Ad\u017ei\u0107 tweeted.<\/p>\n\n\n\nCausing over $40 billion loses<\/h2>\n\n\n\n
Nabbed with forged passports<\/h2>\n\n\n\n