Terraform Labs Chief Do Kwon Reportedly Arrested by Police in Montenegro

Do Kwon, the co-founder of Terraform Labs, who has been on the run since the $40 billion collapse of the Terra-Luna ecosystem in May, has been reportedly arrested by the local police in Montenegro.

According to a tweet from the country’s Interior Minister, Filip Adfzic, Kwon was detained at the Podgorica airport in possession of “falsified documents.”

The minister’s Twitter account is not verified, but the news was confirmed by the local newspaper Vijesti. Adfzic is also followed by Montenegro’s Prime Minister, Dr. Dritan Abazovic.

Recall that Kwon was reportedly last seen in Serbia after leaving Dubai in December as he continued to run from authorities. It is worth noting that Montenegro shares its borders with Serbia. South Korea’s Ministry of Justice requested the Serbian government’s assistance in finding Kwon if he was truly in the country.

Interpol has slapped him with a red alert, which requires states to “identify and provisionally detain a person pending extradition, surrender, or comparable judicial action.” He is accused of fraud and being responsible for the collapse of the $40 billion TerraLuna ecosystem by the governments.