Crypto Fugitive Do Kwon Arrested In Montenegro

Montenegro’s interior minister, Filip Adzic, revealed in a tweet that crypto fugitive Do Kwon was arrested in Montenegro with falsified documents.

Famous South Korean fugitive and “crypto-entrepeneur” Do Kwon, who was behind the $40BN implosion of the terraUSD and luna digital tokens last year which sparked the initial leg of the crash sweeping the crypto space, has been arrested in Montenegro according to local authorities.

In a statement on Twitter, Montenegro’s interior minister Filip Adzic said “the former cryptocurrency king” was detained by police at Podgorica Airport with falsified documents. “We are waiting for official confirmation of identity,” Adzic added.

As a reminder, it was the collapse of terraUSD coin in May of 2022 that unleashed an unprecedented crash in crypto markets which engulfed many of the industry’s leading players. As the FT notes, Kwon, co-founder of Terraform Labs, was charged with fraud and breaches of capital markets law in his home country and sparked an international manhunt after authorities were unable to locate him.

Marshall Beard, the Chief Strategy Officer at the U.S.-headquartered cryptocurrency exchange Gemini, said that Bitcoin could test new highs this year and reach $100,000.

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