Montenegro's Minister of Interior Claims That Former Cryptocurrency CEO Do Kwon Has Been Arrested.

According to Filip Adzec, the interior minister of Montenegro, Do Kwon, the former CEO of Terraform Labs, which produced a crashed stablecoin, has reportedly been detained there. Adzec tweeted about the development on Thursday morning.

‍

He stated in a Tweet that the erstwhile "cryptocurrency king," who is responsible for losses of more than $40 billion, was apprehended at the Podgorica airport using forged passports. South Korea, the USA, and Singapore have all made similar claims. "We are awaiting official identification confirmation."

‍

In a subsequent Twitter, Adzec stated that "one of the world's most sought fugitives was apprehended in Podgorica," claiming that Montenegrin police had "detained a person believed to be one of the highly wanted fugitives, South Korean national Do Kwon."

‍

A month ago, the U.S. CEO Do Kwon of Singapore-based Terraform Laboratories and the Securities commission were charged with fraud. The LUNA token, a cryptocurrency that plummeted in May 2022, was being marketed by Terraform and Kwon, the SEC claimed in its statement.

‍

Since Adzec posted the announcement on Twitter, the Montenegrin news site Vijesti has verified that the tweet came from the interior minister of Montenegro and that the person detained was a citizen of South Korea, according to CoinTelegraph.