Interpol confirmed the arrest of crypto-fugitive Do Kwon
Interpol reports that the man arrested in Montenegro is Kwon Do Hyun, also known as Do Kwon, the disgraced founder of a bankrupt cryptocurrency company who is wanted in South Korea and the United States on charges of fraud and other crimes.
Kwon, a South Korean citizen, founded the blockchain platform for the stable mint TerraUSD and its sister coin Luna. Both coins lost their value in a matter of days in May 2022, wiping about $40 billion from the crypto market and causing panic in the speculative sector.
According to a CNN report, Kwon's identity was confirmed through fingerprint matching, the national Interpol central bureau in Seoul told CNN on Friday.
A day earlier, Montenegrin Interior Minister Filip Adzic wrote on social media that a man believed to be Kwon had been arrested in the capital Podgorica.
Kwon was based in Singapore when he ran blockchain platform Terraform Labs. In December, prosecutors in Seoul told CNN that the crypto-entrepreneur was in Serbia, where he had gone into hiding after leaving Singapore.
In September, a South Korean court issued an arrest warrant for Kwon after investors accused him of fraud after the company collapsed.
Kwon was charged with fraud and violating South Korea's capital markets law. In October, he said he did not believe the charges were legitimate and said they were "politically motivated."
The cryptocurrency developer has repeatedly stated on Twitter that he is not "on the run," but has refused to disclose his whereabouts because of concerns for his personal safety.
