Why did Do Kwon get Arrested? Terraform Labs founder charged in Montenegro

A popular Crypto founder, Do Kwon who is the founder of Terraform Labs has become a topic of discussion after his arrest was made in Montenegro. Yes, a South Korean citizen Do Kwon appeared to have been arrested, according to the tweet made by the Country’s Minister of Interior, Filip Adzic. Now, his arrest has gone viral all over the Internet and everyone is trying to search why did he arrest and what was the reason behind his sudden arrest. Due to this, many rumors started to appear on social media but we will share all the details here.

Do Kwon
Image Credit: Getty

Why did Do Kwon get Arrested?

A tweet by Filip Adzic reads,” 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”. According to the official reports, Do Kwon was targeted for several investigations and was even on Interpol’s red notice after stablecoin terraUSD (UST) and its almost $40 billion ecosystem burst last year, sending shockwaves across the cryptocurrency market. Now, the suspect in the case was detained at the Podgorica airport with falsified documents, Adzic added, saying he is still waiting for the official confirmation of identification.

Do Kwon
Image Credit: Getty

According to a report by the Yonhap news agency, the Korean National Police Agency stated that it has verified the suspect’s appearance to be Kwon based on a check of the suspect’s age, name, and nationality on his ID card.

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The official account of Dritan Abazovic, Montenegro’s prime minister, is presented after Adzic’s unconfirmed account. Abazovic’s account also shared the tweet announcing Kwon’s arrest. Official tweets have already referenced Adzic’s account.

Do Kwon
Image Credit: Getty

Another tweet by Adzic reads,” ONE OF THE WORLD’S MOST WANTED FUGITIVES WAS ARRESTED IN PODGORICA 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”. After the tweet was made, many people and social media users started to leave their reactions and several also appreciated the government for this move.

A user wrote Hats off to your leadership! Korean National Police Agency conveys its sincere gratitude for your support in arresting the high-profile fugitives in Montenegro. We look forward to your assistance in extraditing them to Korea. We assure you of our full cooperation in this matter. Neither police nor government shares any kind more updates regarding this arrest. Stay tuned with us to know more details here.

Amzad Khan

Content writer with more than 12+ years of experience in SEO writing, blog writing, and copywriting

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