Do Kwon, Terra Labs co-founder and CEO, has been arrested in Montenegro, according to Interpol and US prosecutors who are now planning extradition and pressing charges.
Another crypto ‘Kingpin’ in the ropes?
A report from the Minister of Interior in Montenegro, Filip Adzic, indicates that the Ex-CEO of the fallen crypto ecosystem, Terra, DO Kwon, has been arrested and detained there.
Adzic Tweeted saying that their police have detained a person that is suspected of being one of the most wanted fugitives, Do Kwon. He added that the suspect was detained at the Podgorica airport using falsified documents, but they are still awaiting solid confirmation of his identity.
Interpol confirms Do Kwon’s arrest
Official information has been offered now to back the claims from the unverified Twitter account used by Adzic that Kwon has been arrested, and the US is already pressing charges. A report from CNN today claims that Kwon will be extradited to the US to answer eight charges of wire fraud, securities fraud, commodities fraud, conspiracy, etc.
Interpol has confirmed that the suspect was Kwon via a fingerprint match against the available data in Interopl’s national central bureau in Seoul. He will now be answerable to the collapse of his $40B crypto empire, which saw two major coins, LUNA and UST stablecoin devalue. Do Kwon might also face similar charges to Sam Bankman-Fried, who is being prosecuted in the U.S.
Keep watching Fintech Express for updates on Kwon and Bankman-Fried’s cases and other Fintech-related news.