Do Kwon, the co-founder of Terraform Labs, who is suspected of fraud after the collapse of the Luna and Terra stablecoin, has been found and arrested in Montenegro. Based on the reports, a man who appears to be the wanted crypto chief executive has been apprehended by the police in the region.

The authorities of Montenegro said on Thursday, March 23, that a suspect whom they assume to be Do Known was found. It was said that the Terra Labs leader was spotted by prosecutors in Serbia in December 2022. He was seen here after a short exile in Singapore and the United Arab Emirates.

According to Yonhap News Agency, the police discovered that the suspect's passport name, age, and country of birth perfectly match Do Known’s personal data. They have already requested for the man’s fingerprints to be scanned for more accurate identification.

Montenegro’s Minister of Interior, Filip Adzic, confirmed they had arrested someone who they assumed to be Do Kwon. He added that the man in possession of falsified documents was detained at the Podgorica airport. The minister also posted a tweet regarding the arrest.

"Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs," the Interior Minister wrote in his tweet.

Meanwhile, Reuters reported that the person thought to be the Terraform Labs founder has also been indicted in the United States following the reported arrest in Montenegro. A police officer who wants to remain anonymous told the publication that an identification procedure is underway, and if his identity is confirmed, Do Known will immediately be placed in extradition detention.

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