Interpol Wanted Do Kwon: Police Catch Crypto Billionaire Scammers

Do Kwon wanted by Interpol
Police catch crypto billionaire scammers

He was one of the most wanted criminals in the world. Now the police in Montenegro are picking up white-collar criminal Do Kwon with false papers. With his crypto company Terraform Labs, he is said to have cheated investors out of billions.

According to official information, one of the most wanted suspected white-collar criminals in the world has been arrested in Montenegro. Montenegrin police arrested fugitive cryptocurrency entrepreneur Do Kwon at the airport in the capital Podgorica, Interior Minister Filip Adzic tweeted. He was picked up with false papers, reported state television RTCG, citing Adzic.

His authority is still waiting for official confirmation of Kwon’s identity, Adzic said. The company Terraform Labs, co-founded by Kwon, went bankrupt last year, and the US Securities and Exchange Commission (SEC) accuses the South Korean of billions of dollars in fraud.

Kwon created the cryptocurrencies Terra and Luna in Singapore. However, the Terra-Luna system collapsed spectacularly in May last year. Investors went away empty-handed. The bankruptcy is said to have caused losses of $40 billion and rocked the global cryptocurrency market.

Do Kwon then went into hiding. At the request of the South Korean public prosecutor’s office, the international police agency Interpol issued a so-called Red Note on his arrest and extradition last September.

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