Terraform Labs co-founder Do Kwon, who presided over a more than $40 billion cryptocurrency implosion last year, was arrested in Montenegro and charged with fraud by US prosecutors.
The developments came just over a month after the US Securities and Exchange Commission sued the 31-year-old as well as Terraform Labs. It is unclear whether his arrest was at the request of US authorities. He also faces an arrest warrant in South Korea on securities-law violations.
Kwon was detained in Podgorica along with Hon Chang Joon while trying to fly to Dubai using falsified Costa Rican traveling documents, Montenegro’s Interior Ministry said in a statement Thursday.
Source: Do Kwon TerraUSD Creator Arrested in Montenegro, Charged With Fraud – Bloomberg
