A screen, right, shows the falling values of the Luna cryptocurrency, at a cryptocurrency exchange in Seoul, South Korea, Friday, May 27, 2022. Police in Montenegro have arrested Terraform Labs founder Do Kwon. — AP
PODGORICA: Police in Montenegro have arrested Terraform Labs founder Do Kwon, who is wanted in South Korea in connection with a US$40bil (RM177bil) crash of the firm’s cryptocurrency that devastated retail investors around the world, the European country’s interior minister said Thursday.
"Montenegrin police arrested an individual who is believed to be one of the most wanted fugitives, South Korean citizen Do Kwon,” Interior Minister Filip Adzic said on Twitter. South Korea’s Justice Ministry on Friday confirmed the arrest of Kwon and another unidentified individual linked to the cryptocurrency crash and said it will proceed with steps to extradite them to South Korea. Both South Korea and Montenegro are signees to the European Convention on Extradition.
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