Authorities are verifying the identification of the previous South Korean cryptocurrency king, who was apprehended on the Podgorica airport with solid paperwork.
(Reuters)
Police in Montenegro have detained an individual considered Do Kwon, a global fugitive accused of defrauding buyers in a multibillion-dollar cryptocurrency scheme, the nation’s inside minister stated.
“The person is suspected of being one of the most wanted fugitives, South Korean national Do Kwon, a co-founder and CEO of the Singapore-based Terraform Labs,” Filip Adzic, the Montenegrin inside minister wrote on Twitter on Thursday.
South Korean police additionally issued a separate assertion saying a suspect considered Do Kwon and one other individual considered a person named Han Chang-joon had been arrested in Montenegro.
“We have not yet received fingerprints from Montenegro, but we plan to have final identity verification by tomorrow morning,” an official on the Korean National Police Agency advised Reuters news company.
In February, the US Securities and Exchange Commission filed a civil lawsuit towards Kwon and Terraform Labs in Manhattan federal court docket, accusing them of defrauding buyers in what the regulator deemed a multibillion-dollar scheme.
READ MORE:
New blockchain Luna 2.0 set to launch after collapse erases billions
“The former cryptocurrency king who is behind losses of over $40 billion, has been apprehended at the Podgorica airport with forged documents. The same person is being sought by South Korea, the United States and Singapore,” Adzic stated.
A police officer who requested to not be named advised Reuters news company that an identification process was underway.
“If the identity of that person is confirmed, he will be placed in the extradition detention,” he stated.
Last week, the Wall Street Journal reported that the US Justice Department was investigating the 2022 collapse of the TerraUSD stablecoin and had questioned former crew members of Terraform Labs, which was behind the stablecoin.
READ MORE:
What are stablecoins and the way did they set off a crypto market crash?
Source: Reuters
Source: www.trtworld.com
