Do Kwon

Suspected Terra Boss Do Kwon Arrested In Montenegro, Interior Minister Says


  • The Interior Minister of Montenegro Filip Adzic tweeted that a person suspected to be Terraform Labs CEO Do Kwon was arrested in Podgorica on Thursday.
  • Fugitive Do Kwon was arrested at a Podgorica airport with falsified documents, Minister Adzic disclosed as authorities awaited official identity confirmation of the suspect.
  • An official from South Korea’s National Police Agency hinted that the suspect is most likely the Terraform CEO after photo data was compared.
  • Kwon who disappeared after Terra eroded $40 billion in investments previously said he was not on the run and had nothing to hide from law enforcement.

A person suspected to be Terraform Labs founder and international fugitive Do Kwon was arrested in Montenegro on Thursday, Interior Minister Filip Adzic shared on Twitter. The news was first reported by Bankless citing Minster Adzic’s tweet.

According to the Minister, Kwon was arrested with falsified documents at an airport in Montenegro’s capital city of Podgorica. While the suspect was detained, Minister Adzic noted that authorities were carrying out an official confirmation of identity. Governments from Singapore, South Korea, and the U.S. already contacted Montenegrin police regarding the arrest, per reports.

The former “cryptocurrency king”, who is behind losses of more than 40 billion dollars, was detained at the Podgorica airport with falsified documents, and South Korea, the USA and Singapore are demanding the same. We are waiting for official confirmation of identity. 2/2

– Translated from Minister Filip Adzic’s Thursday thread on Do Kwon’s arrest.

“I am not on the run“ – Do Kwon

A report from South Korean news agency Yonhap after the arrest said local authorities contacted Montenegro police for fingerprint data to confirm the suspect’s identity. A spokesperson for Korea’s National Police Agency noted that the detainee shared the same age, nationality, and name as Kwon after an ID card was examined.

South Korean authorities invalidated Kwon’s passport and issued an arrest warrant for the Terraform CEO after he failed to answer a Congressional summon. Law enforcement also launched investigations into Terra’s $40 billion crash and key figures in the company like co-founder Daniel Shin.

Do Kwon who is wanted by Interpol and South Korean police previously said he was not on the run and had nothing to hide from government agencies.