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Do Kwon Arrested While Traveling in Montenegro

Founder of Terraform Labs Arrested in Montenegro

Do Kwon, the co-founder and former CEO of Terraform Labs, has been arrested by the Montenegrin police after a prolonged manhunt.

According to the Montenegrin Minister of Interior, Filip Adzic, Kwon was apprehended at the Podgorica airport with falsified documents. He is sought after by South Korea, the US, and Singapore for his alleged role in a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.

The collapse of the Terra (LUNA) ecosystem has been linked to Do Kwon and Terraform Labs, which have been accused by the United States Securities and Exchange Commission (SEC) of orchestrating the fraud. The SEC alleges that Kwon and his company played a key role in the collapse of the ecosystem.

Do Kwon reportedly took refuge in Singapore in September after a court in Seoul issued an arrest warrant against him. The court asked Interpol to revoke his passport and issue a red notice against him. However, Kwon maintained that he was not on the run.

Later, in December 2022, news emerged that Kwon was hiding in Serbia. This led to the ecosystem’s cryptocurrency, reinvented as Terra Classic (LUNC), suffering an exceptionally poor performance.


Roland is a Public Relations & Communications guru with an immense passion for the blockchain and crypto industry. A fusion of his expertise and passion led to the dawn of Optimisus in 2020.