The CEO of Terraform Labs, Do Kwon, has been apprehended at Podgorica airport in Montenegro by local police. Kwon had been on the run since May 2022, when Terra’s network imploded, causing more than $40bn in losses. Kwon fled from South Korea to Singapore and had been actively avoiding criminal investigations. He was reportedly travelling with an aide named Han at the time of his arrest. While South Korean authorities have provided visual confirmation, they are still awaiting fingerprint information to confirm his identity. Kwon’s passport was revoked by South Korean authorities in September 2022, making him a wanted man in 195 countries. It is not yet clear whether Kwon was attempting to enter or leave Montenegro. Serbian police were already on Kwon’s trail and had begun a pre-extradition process, suggesting that he may have been attempting to flee Serbian authorities.
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