The global crypto community is rocked by the news that Do Kwon, the co-founder and CEO of Terraform Labs, has been detained by police at Podgorica airport in Montenegro. The arrest is made on suspicion of forgery, with authorities in South Korea, the United States, and Singapore all requesting that he be detained.
Do Kwon, Founder of Terra, Arrested on Suspicion of Forgery
Kwon, who has been dubbed one of the world’s most notorious fugitives, is responsible for losses of over $40 billion. It makes him a high-profile target for law enforcement agencies around the world. His arrest was confirmed by the Twitter account of the Montenegrin Ministry of the Interior. However, the official confirmation of his identity is still awaited. YNA news has claimed that the identity of the arrested person has been confirmed and he is undoubtedly Do Kwon.
Kwon is the founder of Terra, a blockchain-based payment platform that is currently valued at around $10 billion. He has been a prominent figure in the cryptocurrency world for several years, and his arrest is likely to have significant implications for the industry as a whole.
Crypto Community in Shock as Arrest of Do Kwon Sparks Speculation
Several people have taken to social media to express their astonishment at the news that Kwon has been arrested. The announcement has already caused a surge of emotions. Others have speculated that the move may be related to Kwon’s recent efforts to expand Terra’s reach into new markets, while others have suggested that the move is part of a wider crackdown on cryptocurrencies by governments around the world. Moreover, some have suggested that the move is part of a larger crackdown on cryptocurrencies by governments around the world.
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The news that one of the most notorious cryptocurrency characters in the world has been taken into jail is expected to send shockwaves across the sector, regardless of the circumstances for his detention. Many people will be keeping a close eye on the issue to see how it develops and whether or not it will have any effect on the cryptocurrency market.
For now, all eyes are on Montenegro as authorities work to confirm Kwon’s identity and determine the next steps in what is sure to be a closely-watched case.