Do Kwon, the chief executive officer of Terraform Labs, was finally arrested on Thursday in Podgorica, Montenegro. Referring to Kwon as most wanted fugitives and South Korea National, the Montenegrin police said they detained someone who is suspected as the Terraform Labs CEO. Authorities in various jurisdictions across the world have been on the look out for Kwon over the last few months. The Terra network collapse in mid-2022 led to a massive loss of investor money as the ripple effect spread widespread in the crypto market.
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Do Kwon Arrest
According to a statement by the Interior Minister of Montenegro, Kwon was detained at the Podgorica airport. A translation of the minister’s statement said,
“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.”
It may be recalled that the Terraform Labs CEO last year said he was not “on the run.” He made the comments in September 2022 in response to reports that said otherwise. Kwon said at the time that he was in full cooperation with the government agencies.
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