Crypto Fugitive Do Kwon Arrested in Montenegro After Six-Month Manhunt

Do Kwon, co-founder of Terraform Labs, a Singapore-based crypto fintech firm, was arrested in Montenegro after a six-month manhunt. Kwon was wanted by the South Korean police, the US Securities and Exchange Commission (SEC), and Interpol. He had attracted regulatory attention before the May 2022 crash of his company's paired cryptocurrencies, stablecoin TerraUSD and sister coin Luna. The SEC charged Terraform Labs and Kwon with orchestrating a multi-billion dollar crypto asset securities fraud between April 2018 and May 2022.