Do Kwon, Founder of Terraform Labs, Arrested in Montenegro

According to Montenegro’s minister of interior Filip Adzic, Do Kwon was suspected of being “one of the most wanted fugitives.”

Do Kwon, the co-founder and CEO of Terraform Labs, has been reportedly arrested. Kwon had been on the run for several months before being caught using falsified documents at an airport in Podgorica, the capital city of Montenegro.


Filip Adzic, Montenegro’s minister of interior, announced the arrest in a tweet, saying that Do Kwon was suspected of being “one of the most wanted fugitives” and that authorities were awaiting official confirmation of his identity.






Do Kwon

Kwon’s arrest came after he was accused of playing a major role in the $40 billion Terra/LUNA collapse, which had a significant impact on the cryptocurrency markets.


“Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs,” Adzic tweeted.


Kwon had been under investigation for the past 11 months since the collapse of the platform, and in September 2022, Interpol issued a red notice requesting law enforcement agencies worldwide to search for and arrest him.


In mid-February, the U.S. Securities and Exchange Commission also charged Terraform Labs and Kwon with defrauding U.S. investors who purchased its crypto assets, LUNA and the stablecoin Terra.

Kwon had denied claims that he was hiding from authorities, but prosecutors refute ..

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