Crypto fugitive Do Kwon arrested in Montenegro

'테라•루나' 권도형 몬테네그로서 체포 위조여권 덜미
Terraform co-founder Do Kwon has been indicted in the U.S. following his arrest in Montenegro with a fake passport.
The entrepreneur has been on South Korean authorities' radar for allegedly defrauding investors in a multi-billion-dollar cryptocurrency scheme.
Lee Seung-jae has more.
The whereabouts of Terraform Labs co-founder Do Kwon had been shrouded in mystery for nearly a year.
That is until police in Montenegro announced on Thursday local time that the wanted CEO of the blockchain firm is in custody.
Despite Kwon denying the fact that he has been on run, he was finally arrested at an airport for having falsified documents.
Do Kwon has been under investigation for the past 11 months, ever since the massive Terra-LUNA crash which wiped out about 40 billion US dollars from the crypto market.
He's being accused of fraud and tax evasion.
It's estimated that 200-thousand investors in South Korea alone were affected by the collapse of his firm's algorithmic stablecoin.
While the next step is for the South Korean government to seek extradition to bring Do Kwon to South Korea, there may be some obstacles in the way.
Firstly, South Korea does not have an extradition agreement with Montenegro.
On top of that the U.S. Securities and Exchange Commission charged Terraform Labs and Kwon with defrauding U.S. investors, so the U.S. is also likely to seek to extradite him.
And while the U.S. does not have an extradition treaty with Montenegro either, the situation may well become a fight to see who can get their hands on the disgraced crypto-CEO first.
If South Korea is able to extradite Kwon, the prosecution will likely focus on revealing that the profit structure of Luna and Terra was fraudulent, and that it was nothing more than a Ponzi scheme.
Lee Seung-jae, Arirang News.
#Crypto #Do_Kwon #Montenegro #Terra_LUNA #Terraform #cryptocurrency #가상화폐 #코인 #테라_루나 #권도형 #Arirang_News #아리랑뉴스
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2023-03-24, 09:00 (KST)

[@meloon5876]

Very good. Pls serve justice very soon. How much hard earn money did he wiped out?

[@MADRA35]

Terra Luna Classic (LUNC) price has recorded 180% gains this year and 400% rally since October last year amid chain developments and support from the world’s largest crypto exchange Binance. An analyst predicts there’s still more than 270% upward movement left in LUNC due to the formation of a bullish pattern.

[@s.mselim1675]

BUSTERED DO KWON

[@TuxBearlux]

Korea Jail is better the American Jail 😂

[@robertspies789]

Criminal activity and crypto currencies always seem to go together and that is why I believe all crypto will be outlawed eventually

[@heyhej1]

They'll let him go with in 2 months if not sooner because he is not wanted in Montenegro. 🎉

[@banger2998]

They arrested him because he was wanted by south korea he will be sent there

[@heyhej1]

​@@banger2998not quite.... Both US and South Korea don't have extradition agreement with Montenegro, so.....
The only way that Montenegro will hand him over is to the country that gives more money for his head...and If he can pay off the warrant more than the US or S. Korea, he will be a free man...
It's capitalism and democracy 🍻

[@banger2998]

@@heyhej1 he was arrested through Interpol collaboration so yes he will be handed over to South Korea.

[@heyhej1]

@@banger2998 unless he was locked up in the US or South Korean embassy, then yes .... however, the media does not mention anything where he is being held.....soooo, Good Luck And Good Night 🍻

[@heyhej1]

@@banger2998 I don't think you understood what the media said.... 1:05 ..... check it out again 🍻

[@starman1994]

Crypto is the new Ponzi.
Proof Do Kwon innocent.

[@hblock8361]

lol what is your FIAT money backed by?

[@handsome4455]

Do kwon Scammer