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Fugitive ‘cryptocurrency king’ behind 2022’s $40B crash arrested fleeing Montenegro with fake documents

Do Kwon, former crypto darling and now fugitive, has been arrested in Montenegro. Kwon was the driving force behind and public face for the TerraUSD stablecoin and the Luna cryptocurrency, the collapse of which saw an estimated $40 billion in value disappear overnight. Late last year South Korea issued an arrest warrant for Kwon (opens in new tab), who swiftly went into hiding while publicly denying he was in hiding. I guess that’s one good use for Twitter.

Kwon’s arrest was announced by Montenegro’s interior minister Filip Adzic, also on Twitter, who said (opens in new tab) (via machine translation) “Montenegrin police have detained a person suspected of being one of the world’s most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.

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