Police: Crypto firm founder Do Kwon arrested in Montenegro

PODGORICA, Montenegro (AP) — Police in Montenegro say they have arrested Terraform Labs founder Do Kwon, who is wanted in South Korea in connection with a $40 billion crash of the firm’s cryptocurrency. Montenegro’s interior minister said Thursday that authorities were awaiting official confirmation of the identity of a man who was arrested at the airport in the capital, Podgorica, with false documents, but they believe it’s Kwon. South Korea asked Interpol in September to circulate a “red notice” for the 31-year-old across the agency’s 195 member nations to apprehend him. Kwon and five others are wanted because of allegations of fraud and financial crimes in relation to the implosion of Terraform’s digital currencies in May 2022.