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Alleged Terra-Luna Crypto Scandal Mastermind Arrested in Montenegro


Suspect linked to Terra-Luna crypto scandal arrested in Montenegro.

A man believed to be DoKwon, head of Terraform Labs and a key figure in the Terra-Luna crypto scandal, has been arrested in Montenegro. 

Kwon and another man were caught using fake Costa Rican and Belgian passports at Podgorica International Airport as they attempted to board a flight to Dubai.

Montenegrin authorities seized three laptops and five cell phones from the suspects, who had no record of entering the country. 

South Korean police have requested fingerprint information from Montenegro to confirm the suspect’s identity as Kwon.

Kwon co-founded Terraform Labs with Daniel Shin, a former general manager of Chai Corporation. 

He is being investigated for providing false information and violating the Capital Market Act by continuing to issue Terra and Luna, knowing they were likely to crash.

The Seoul Southern District Prosecutors’ Office issued an arrest warrant for Kwon last September on suspicion of violating the Capital Market Act. 

Mr. Han, who was arrested with Kwon, is a close confidant and former head of Chai Corporation, who Interpol also wants.

Prosecutors focus on understanding the situation and ensuring that Kwon is investigated and tried under the legal system. 

They recently summoned Shin, the former co-founder of Terraform Labs, as a suspect.

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