Terra’s Do Kwon Leaving Court in Handcuffs

Do Kwon, the founder of Terraform Labs and a central figure in the Terra-Luna coin implosion, was recently seen leaving a Montenegrin court in handcuffs.

Exclusive footage obtained by journalist Isabel Hunter shows Kwon and Terraform CFO Han Chang-joon being walked to a police car separately, both handcuffed by police officers.

Exclusive footage —- Do Kwon and Han Chang-joon leaving Montenegrin court in handcuffs pic.twitter.com/IwTnyUpLRS

— Isabel Hunter (@isabelhunter) March 24, 2023

This development comes a day after South Korean officials verified Kwon’s arrest in Montenegro. 

Interpol has also confirmed Kwon’s arrest through a fingerprint match, according to CNN.

Kwon had been accused of violating South Korea’s financial laws following the collapse of the TerraUSD stablecoin and Luna token last May.

The highly controversial entrepreneur had been on the run since September when a Seoul court issued an arrest warrant against him and Interpol slapped him with a red notice.    

Luna and the TerraUSD stablecoin lost their value in mere days last May, wiping about $40 billion from the crypto market and kickstarting the crypto winter of 2022. 

Kwon has been charged with fraud and breaches of South Korea’s capital markets law.

He has repeatedly claimed on Twitter that he was not “on the run,” but persistently refused to disclose his whereabouts.

Prior to being arrested in Montenegro, Kwon was allegedly hiding in Serbia.