Montenegro police on Thursday detained a person thought to be Do Kwon, the cofounder of Singapore-based blockchain platform Terraform Labs accused of fraud, the country’s interior minister said.
“Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon,” Filip Adzic said on Twitter.
The former “cryptocurrency king,” accused of being behind losses of more than $40 billion dollars, was detained at the Podgorica airport with falsified documents, he said, adding that they are waiting for official confirmation of identity.
The suspect has been the target of several investigations and was on Interpol’s red notice after stablecoin terraUSD (UST) and its $40 billion ecosystem imploded last year, sending shockwaves across crypto markets.
Source: Anadolu Agency