• Do Kwon, founder of Terra (LUNA) and co-founder of TerraForm Labs, has been arrested at the Montenegro Airport with counterfeit passports.
• The arrest comes after charges from the U.S. Securities and Exchange Commission (SEC) alleging fraud and manipulation.
• Following the news, Terra (LUNA) token plummeted 8.2%.
Do Kwon Arrested
Do Kwon, founder of Terra (LUNA) and co-founder of TerraForm Labs, has been arrested at Podgorica Airport in Montenegro with counterfeit passports. The corrupt leader of the fallen crypto company had been on the run since June 2022.
SEC Charges
The arrest follows charges from the U.S. Securities and Exchange Commission (SEC), alleging that Do Kwon committed fraud by repeating false and misleading statements to build trust before causing devastating losses for investors. South Korean authorities, Singaporean and Serbian police special task forces have also been attempting to capture him for almost a year without success until now.
Vigilante Group
In addition to official authorities trying to apprehend him, a vigilante group of angry investors was created in an effort to locate Do Kwon but were unsuccessful until his arrest today.
Terra Token Plunges
Following news of his capture, the newly launched Terra (LUNA) token instantly plummeted 8.2%, according to BanklessHQ on Twitter.
Closure For Crypto Sphere
Now that Do Kwon has been captured regulators and investors can finally gain closure on this fiasco which caused enormous damage to the crypto sphere leaving countless investors devastated