Do Kwon, the co-founder of the failed TerraUSD stablecoin, has been arrested in Montenegro after months of hiding, Montenegro Interior Minister Filip Adzic said on Twitter. The suspect was detained in the airport of the country’s capital of Podgorica with false documents. In September, South Korean authorities issued a warrant for Kwon’s arrest in September. The U.S. Justice Department is investigating the collapse of TerraUSD, WSJ reports.
The collapse of the $40 billion ecosystem around Terra-Luna in May 2022 started the Crypto Winter and was the first domino that subsequently led other major crypto schemes such as Three Arrows Capital (3AC), Celsius Network, Voyager Digital, and ultimately FTX into bankruptcy.
