Veröffentlicht von Summary
• Do Kwon, the founder of failed crypto network Terraform Labs, was arrested on Thursday in Montenegro after months of evading authorities and regulators.
• Interpol confirmed that the man apprehended was indeed Do Kwon after a fingerprint match.
• Federal prosecutors in New York announced 8 fraud-related charges against Kwon, including securities fraud, wire fraud, commodities fraud and conspiracy.
Do Kwon’s Arrest And Identity Confirmation
Do Kwon, the founder of the failed crypto network Terraform Labs, was arrested on Thursday Mar. 23 after months of evading authorities and regulators. The troubled Terra founder is responsible for over $40b in losses after the crash of two crypto assets, LUNA (now Luna Classic) and TerraUSD algorithmic stablecoin UST.
The news about Do Kwon’s alleged arrest dawned on Mar. 24 after reports emerged that a man thought to be the Terra founder had been apprehended in Montenegro leaving the country with fake documentation. Interior Minister Filip Adzic said; „Montenegrin police arrested an individual believed to be one of the most wanted fugitives, South Korean citizen Do Kwon.“ South Korea had issued a warrant for his arrest last year and Interpol eventually gave a red notice concerning Do Kwon upon confirmation via a fingerprint match.
Kwon Presented In Court
Images of Do Kown in handcuffs have been circulating recently as he and his accomplice Han Chang were leaving Montenegrin court which indicates that they were presented earlier today. Federal prosecutors in New York announced 8 fraud-related charges against him including securities fraud, wire fraud, commodities fraud and conspiracy.
Kown On The Run For Months
Kown has been on the run since last year when South Korea issued a warrant for his arrest but he disapproved these comments noting that he was not on the run but chose not to disclose his location for personal security reasons instead. He and Hang Chang were hiding in Serbia before moving to Montenegro where they were eventually tracked down by authorities leading to his arrest yesterday morning .
Conclusion
Do Kown has finally been brought to justice following his months-long evasion of authorities resulting from his role behind $40b worth of losses due to two crypto assets crashing – LUNA (now Luna Classic) and TerraUSD algorithmic stablecoin UST – which he founded at Terraform Labs back when it first established operations online..