Interpol says a man arrested in Montenegro is Kwon Do-hyeong, also known as Do Kwon, the disgraced founder of a collapsed crypto company who is wanted in South Korea and the United States on fraud and other charges
Kwon, a South Korean national, founded the blockchain platform behind the TerraUSD stablecoin and its sister coin Luna. Both coins lost their value in a matter of days in May 2022, wiping about $40 billion from the crypto market and setting off panic across the speculative sector. Kwon’s identity was confirmed through a fingerprint match, Interpol’s national central bureau in Seoul told CNN on Friday.
Seoul prosecutors told CNN in December that the crypto entrepreneur was believed to be in Serbia, where he was in hiding after leaving Singapore via Dubai. In September, a South Korean court issued an arrest warrant for Kwon, after he was accused of fraud by investors in the country in the wake of the collapse of his company. Kwon has been charged with fraud and breaches of South Korea’s capital markets law.
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