Terra: Do Kwon Caught Using Fake Passport in Montenegro

Terra: Do Kwon Caught Using Fake Passport in Montenegro

Do Kwon, a Terraform Labs co-founder who was wanted for his involvement in the $40 billion Terra Luna ecosystem collapse in May 2022, was reportedly captured.

According to a court document cited by DL News, he has been accused of using a false passport by Montenegrin authorities. 

South Korean national Kwon was detained last month as he attempted to board a private plane to escape Montenegro. 

He allegedly attempted to travel using a fake Costa Rican passport.

Related Reading: Terra: Request by Do Kwon to Block Access to Vital Documents Denied

When TerraUSD, a stablecoin developed by Terraform Labs and frequently referred to by the ticker UST, failed in May last year, investors lost tens of billions of dollars. 

The episode was the first of several crises that would plague the cryptocurrency industry in 2022, including the failures of exchange behemoth FTX and lender Celsius.

Since then, numerous inquiries have been made about Kwon, who is even included on Interpol’s red alert. 

Kwon could receive a term of three months to five years in prison if found guilty of the offenses relating to the documents. 

Read Also: Terra Classic (LUNC) Down 2.5% in the Past 24hrs; Here’s Why

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