Image: Terraform Labs, Envato Elements

An individual suspected of being worldwide fugitive Kwon Do-hyung, often known as Do Kwon, the co-founder of Terraform Labs, has been detained by the Montenegrin police, in line with a Twitter post from the unverified account of Montenegro Minister of Interior Filip Adzic. The tweet was retweeted by the verified account of Dritan Abazovic, the nation’s prime minister. 

See associated article: FBI investigating the collapse of Do Kwon’s Terra-Luna, WSJ reports

Fast info

• Authorities detained an individual believed to be Kwon touring with falsified paperwork on Thursday at an airport in Podgorica, the capital of Montenegro, Adzic stated on Twitter.
• Kwon faces fraud costs in South Korea associated to the failed algorithmic stablecoin within the Terra-Luna ecosystem, a collapsed venture developed by Singapore-based Terraform Labs.
• South Korean authorities issued an arrest warrant for Kwon in September for violating capital markets regulation, almost two weeks earlier than Interpol issued a red notice for his arrest.
• Kwon’s suspected arrest comes after Terraform Labs co-founder Shin Hyun-seung, often known as Daniel Shin, was referred to as in for questioning by South Korean prosecutors earlier this week. Prosecutors did not persuade the courtroom to approve an arrest warrant for Shin.
• The National Police Agency of South Korea has reportedly requested the Montenegrin authorities to supply info on the detained suspect’s fingerprints to confirm Kwon’s identification, in line with native information company Yonhap. The South Korean police added that footage of the suspect matched Kwon’s bodily attributes.
• The Government of Montenegro didn’t instantly reply to Forkast’s inquiries. 

See associated article: South Korea cranks up pressure to extradite Do Kwon, founder of failed Terra-Luna stablecoin