• September 21, 2023


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Montenegro’s Police Arrests Terraform Labs CEO Do Kwon

ByLouis Adams

Mar 23, 2023
Reading time: < 1 minute

The police in Montenegro’s capital city detained Do Kwon, the co-founder and CEO of Terraform Labs (TFL), as per the announcement made by the country’s Minister of Internal Affairs Filip Adzic.

Described as “one of the most wanted fugitives,” Adzic has linked Kwon to user losses of over $40 billion. He was apprehended at the Podgorica airport on false documents, as requested by law enforcement agencies in the United States, Singapore, and South Korea.

In December last year, the media reported, citing the prosecutor’s office, that Kwon was allegedly hiding in Serbia. Later, representatives of the Ministry of Justice and the supervisory agency clarified that these allegations were correct.

Kwon himself said that he was not “on the run” and had been cooperating with the police.