Crypto Fugitive Do Kwon Is Arrested in Montenegro and Charged With Fraud in US
- Kwon’s TerraUSD stablecoin imploded in early May last year
- South Korea has sought Kwon’s arrest since September
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Terraform Labs co-founder Do Kwon, who presided over a more than $40 billion cryptocurrency implosion last year, was arrested in Montenegro and charged with fraud by US prosecutors.
The developments came just over a month after the US Securities and Exchange Commission sued the 31-year-old as well as Terraform Labs. It is unclear whether his arrest was at the request of US authorities. He also faces an arrest warrant in South Korea on securities-law violations.