The Art of Crypto reports that Do Kwon, co‑founder of Terra Luna, was arrested in Montenegro on fraud and money‑laundering charges after a worldwide manhunt. Kwon had been on the run since the UST stablecoin collapsed, triggering a $40 billion crypto market crash that devastated investors. The arrest is portrayed as a relief for those harmed by the crash, and Kwon now faces possible extradition to the United States to stand trial for alleged fraud.
Do Kwon, the co-founder of Terra Luna, was recently arrested in Montenegro on charges of fraud and money laundering following his suspected involvement in a $40 billion crypto crash. Kwon had been on the run since the collapse of the UST stablecoin's value, which led to widespread panic and significant losses for a lot of market players. The arrest was made after an international manhunt, during which Kwon was reported to have fled to various countries, and his arrest has come as a relief to many investors who were left devastated by the crypto crash. Do Kwon now faces extradition to the United States, where he will stand trial for his alleged involvement in the fraudulent scheme.
