After a months-long run, Do Kwon, the former head of the Terra blockchain, has finally been apprehended by the authorities in Montenegro. According to the country’s interior minister, the fugitive was intercepted at Podgorica airport, in possession of false documents. Since May 2022, Do Kwon has been the subject of an international hunt led by Interpol, due to his alleged involvement in the spectacular collapse of Terra Luna, which caused more than 40 billion dollars in losses.
Former Terra executive arrested in Montenegro with fake documents
The former head of the blockchain Terra, Do Kwonwas apprehended by the Montenegrin police when he was about to travel with false documents. The co-founder of Terraform Labs was wanted since May 2022 by Interpol for his involvement in the $40 billion collapse of the cryptocurrency Terra Luna.
Montenegro’s interior minister, Filip Adzic, a confirmed the arrest of a person suspected of being Do Kwon at Podgorica airport on Thursday 23 March. The local media Vijesti confirmed the authenticity of the minister’s message and said that the person arrested is a South Korean national.
Yonhap News Agencya South Korean media outlet, also confirmed the arrest of Do Kwon citing the Montenegrin authorities. According to the media, the photos, name, nationality and age mentioned on the ID card confirm Do Kwon’s identity. His former assistant, Han Mo, was also arrested with him.
Despite these elements, the National Police Agency of South Korea said it was still waiting for confirmation of Do Kwon’s identity through fingerprints before it could formalize his arrest and that of his assistant.
Do Kwon’s refuge in Serbia an open secret
In December 2022, South Korean prosecutors disclosed that Do Kwon had taken refuge in Serbia, hoping to escape prosecution in his home country.
Serbia had not signed an extradition agreement with South Korea, making the situation particularly complex for South Korean judicial authorities.
Montenegro, which is also involved in this case, is currently in the same situation, but this recent arrest could well change the situation. Indeed, as these countries are eager to see him brought to justice, they could be led to collaborate with Montenegro, even without an extradition agreement. So we will have to be patient and see how events unfold.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
