Crypto fugitive Do Kwon faces US charges after arrest in Montenegro
finextra.comKwon was arrested by Interpol at Podgorica airport on Thursday, after providing falsified documents from Costa Rica while attempting to board a flight to Dubai.
Kwon was wanted in South Korea and the US for multiple charges of fraud for misleading investors and has been indicted in the US with eight charges including wire fraud, securities fraud, commodities fraud, and conspiracy.
Interior minister Filip Adzic reported the arrest on social media, stating: “The former cryptocurrency king who is behind losses of over $40 billion, has been apprehended at the Podgorica airport with forged documents.”
Last year, Seoul authorities reported that Kwon was hiding in Serbia after fleeing from Singapore, where Terraform Labs was based.
The value of TerraUSD and Luna plummeted in May 2022, causing mayhem in the crypto market by losing $40 billion. The stablecoin was expected to hold $1 value.
Kwon’s downfall was the kickoff to the current crypto winter, and his arrest is the latest scandal that have been sweeping the sector since the collapse of FTX.
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