Montenegro’s Minister of Interior Says Terra Founder Do kwon Arrested in Montenegro

Do Kwon Reportedly Arrested in Montenegro.

The development was shared by the country’s Minister of Interior, who disclosed that authorities are awaiting confirmation of his identity.

Founder of Terraform Labs, Kwon Do-hyung – popularly known as Do Kwon – has reportedly been arrested in Podgorica, the largest and capital city of Montenegro. The disclosure comes six months after a South Korean court issued an arrest warrant for Kwon.

Filip Adzic, Montenegro’s Minister of Interior, shared the development stating that an official announcement will follow shortly once the authorities have confirmed his identity.

U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACA

Crnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni direktor Terraform Labs sa sjedištem u Singapuru.
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— Filip Adzic (@filip_adzic) March 23, 2023

According to Adzic, the individual suspected to be Do Kwon was apprehended by the Montenegrin police at the airport in Podgorica in possession of falsified documents. Adzic highlighted that authorities want Kwon in South Korea, Singapore, and the United States.

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Do Kwon was branded as a wanted fugitive by South Korean authorities six months back. Authorities claim the Terraform Labs founder has been evading them following a warrant for his arrest issued by a Judge in the Seoul Southern District Court in September 2022. Interpol also reportedly issued a red notice for him in the same month.

Kwon, who insists he is in Singapore, has repeatedly dispelled these allegations, claiming that he is not on the run and willing to work with the authorities as they investigate the Terra collapse of May, which led to over $40 billion in losses for investors.

Despite claiming he is in Singapore, Do Kwon had failed to divulge his actual location, citing security concerns. Singaporean authorities previously revealed that, despite his claims, Do Kwon is not in the country and is currently on the run. Reports that he had flown to Dubai surfaced shortly after.

In February, South Korean authorities entered Serbia in search of him amid reports that he had moved to the country. Despite these developments, Do Kwon had been active on Twitter, with the last tweet from his personal account dating back to Feb. 1.

Notably, the United States Securities and Exchange Commission (SEC) also brought charges against Do Kwon in February, claiming that the South Korean developer defrauded investors by offering unregistered securities.

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