Do Kwon Arrested in Montenegro

PODGORICA, ME – Do Kwon, the infamous founder and CEO of the defunct Terraform Labs, was arrested in Montenegro Thursday, according to the country’s Interior Minister, Filip Adzic. 

The announcement was made through a tweet thread on an unverified Twitter account believed to belong to Mr. Adzic. However, Montenegro’s Prime Minister, Dritan Abazovic, retweeted the post on his official account.

U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACA

Crnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni direktor Terraform Labs sa sjedištem u Singapuru.
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— Filip Adzic (@filip_adzic) March 23, 2023

“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.”

Adzic added that Kwon was taken into custody at the Podgorica airport and found to have falsified documents. Meanwhile, Korea’s Yonhap news outlet reports that the Korean National Police Agency has confirmed the suspect is Do Kwon per the passenger’s name, age, and nationality of his identity card.

Kwon has been on Interpol’s red alert since the crash of his company’s stablecoin, UST, resulted in a $40 billion loss in May 2022.