A man arrested in Montenegro has been confirmed to be Kwon Do-hyeong, also known as Do Kwon, the founder of a collapsed crypto company wanted in South Korea and the United States on fraud and other charges, according to Interpol.
Kwon, a South Korean national, founded the blockchain platform behind the TerraUSD stablecoin and its sister coin Luna, which lost their value in May 2022, wiping about $40 billion from the crypto market. Kwon's identity was confirmed through a fingerprint match.
He was arrested at the airport with counterfeit documentation and is wanted by several countries, including the USA, South Korea, and Singapore. Terraform Labs, the company Kwon founded, was behind TerraUSD, a stablecoin meant to retain a $1 price point.