• Do Kwon, co-founder of Terra (LUNA), was arrested in Podgorica, Montenegro by South Korean authorities and Interpol.
• He had allegedly falsified documents to evade capture.
• He denied being on the run or participating in a fraudulent scheme involving LUNA and algorithmic stablecoin UST.
Do Kwon Arrested in Montenegro
South Korean authorities, assisted by the International Criminal Police Organization (Interpol), have reportedly arrested Do Kwon, the co-founder of Terra (LUNA) in Podgorica, Montenegro. According to reports, he had allegedly falsified documents in order to evade capture.
Allegations Against Do Kwon
Kwon is wanted for his alleged involvement in the collapse of the Terra ecosystem. Furthermore, he is accused of causing losses worth over $40 billion. As a result, South Korea requested assistance from Serbia for assistance with apprehending him before his eventual detention at an airport in Montenegro. Filip Adzic, Minister of Interior Montenegro confirmed the operation via Twitter.
Do Kwon Denies All Charges
Since December 2022 until his arrest this month, Do Kwon had been living in Serbia where he denied any wrongdoing on several occasions through Twitter posts stating that they are “in full cooperation” with any government agency that has shown interest and have “nothing to hide”.
LUNA Price Trends Downward
The news of Do Kwon’s arrest caused LUNA’s price to trend downward on the daily chart as reported by Bitcoinist earlier this year when South Korea started its manhunt for him across several countries including Singapore before finally settling on Serbia and then Montenegro for his apprehension.
Do Kwon was arrested after months of evading capture due to charges related to fraud associated with Terra (LUNA). He continues to deny all charges against him as LUNA’s price trends downward on the daily chart following news of his arrest.