{"id":76077,"date":"2023-03-23T16:59:08","date_gmt":"2023-03-23T14:59:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76077"},"modified":"2025-09-10T15:18:59","modified_gmt":"2025-09-10T12:18:59","slug":"terraform-labs-founder-and-ceo-do-kwon-arrested-in-montenegro","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/terraform-labs-founder-and-ceo-do-kwon-arrested-in-montenegro\/","title":{"rendered":"Terraform Labs founder and CEO Do Kwon arrested in Montenegro"},"content":{"rendered":"<p>Montenegro&#8217;s capital police detained Terraform Labs (TFL) co-founder and CEO Do Kwon. This was announced by the country&#8217;s interior minister, Filip Adzic.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"und\">In Podgorica, one of the world&#8217;s most wanted fugitives has been arrested.<\/p>\n<p>Montenegrin police have detained the person suspected to be one of the most wanted fugitives, the South Korean national Do Kwon, co-founder and chief executive of Terraform Labs based in Singapore.<br \/>1\/2<\/p>\n<p>\u2014 Filip Adzic (@filip_adzic) <a href=\"https:\/\/twitter.com\/filip_adzic\/status\/1638886164118802432?ref_src=twsrc%5Etfw\">March 23, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Officials described Do Kwon as &#8220;one of the most wanted fugitives.&#8221; According to Adzic, this &#8220;king of cryptocurrency&#8221; is linked to user losses exceeding $40 billion.<\/p>\n<p>The CEO of Terraform Labs was detained at Podgorica Airport on forged documents at the request of law enforcement authorities of the United States,<a href=\"https:\/\/u1f987.com\/en\/news\/singapore-police-begin-investigation-into-do-kwon\"> Singapore<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/seoul-court-issues-arrest-warrant-for-do-kwon\"> South Korea<\/a>.<\/p>\n<p>In December 2022, media citing the prosecutor\u2019s office reported that Kwon <a href=\"https:\/\/u1f987.com\/en\/news\/media-reports-terraform-labs-founder-do-kwon-is-in-hiding-in-serbia\">is hiding in Serbia<\/a>. Later, representatives of the Ministry of Justice and the supervisory authority clarified that these statements &#8216;are not false&#8217;.<\/p>\n<p>The head of TFL himself said that <a href=\"https:\/\/u1f987.com\/en\/news\/do-kwon-denies-reports-that-he-is-on-the-run\">is not at large<\/a> and is cooperating with law enforcement. In September, Bloomberg <a href=\"https:\/\/u1f987.com\/en\/news\/media-interpol-issues-red-notice-for-do-kwon\">reported<\/a> that Interpol issued a red notice for his arrest.<\/p>\n<p>Earlier in March 2023, media reported that the FBI and officials of the Southern District of New York questioned former TFL team members as part of a US DOJ-led inquiry into the TerraUSD collapse.<\/p>\n<p>Prior to that, the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> filed civil charges against TFL and Do Kwon in the orchestration of multibillion-dollar securities fraud. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Montenegro&#8217;s capital police detained Terraform Labs (TFL) co-founder and CEO Do Kwon. This was announced by the country\u2019s interior minister, Filip Adzic.<\/p>\n","protected":false},"author":1,"featured_media":76078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1407,974,852],"class_list":["post-76077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-montenegro","tag-south-korea","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76077"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76077\/revisions"}],"predecessor-version":[{"id":76079,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76077\/revisions\/76079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76078"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}