March 24, 2023 13:03
Do Kwon, the fugitive crypto bro behind the spectacular collapse of digital currency Luna, has been arrested in Montenegro.
His identify was confirmed by fingerprints on Friday.
On Thursday, Montenegrin authorities said they arrested the suspect in the capital of Podgorica who carried a passport with the same English spelling and the same birthdate as Kwon.
Police said they will ask Montenegrin authorities to extradite him to Korea.
Kwon fled to Singapore in April last year, just before the collapse of the Luna wiped out W50 trillion of investors' money (US$1=W1,278).
He then moved to Serbia via the UAE and Dubai.
The Luna was linked to TerraUSD, a so-called stablecoin pegged to the dollar, and was at one time among the top 10 cryptocurrencies in the world, but it plummeted 99 percent in just a week when TerraUSD collapsed last May.
Kwon has since been charged with "orchestrating a multi-billion dollar crypto asset securities fraud" by U.S. prosecutors, and Interpol issued a red notice for his arrest.
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