Do Kwon, wanted in $40B crypto crash, arrested in Montenegro

PODGORICA, Montenegro (AP) — Police in Montenegro say they have arrested Terraform Labs founder Do Kwon, who is wanted in South Korea following the $40 billion crash of the firm’s cryptocurrency. South Korea’s Justice Ministry confirmed the arrests of Kwon and another unidentified individual linked to the cryptocurrency crash and said Friday it will seek their extradition. South Korea last year asked Interpol to circulate a “red notice” for the agency’s 195 member nations to apprehend Kwon. He 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.