Police in Montenegro have arrested Do Kwon, the 31-year-old South Korean founder of cryptocurrency Terra and Luna. Kwon was arrested with false papers at the airport in Podgorica, alongside another Korean national. They were discovered after attempting to identify themselves for a flight to Dubai with forged travel documents issued in Costa Rica. A luggage search also revealed forged Belgian passports. The Montenegrin authorities plan to charge the two with forgery. Kwon created the cryptocurrency system in Singapore, which collapsed spectacularly in May last year, leading to losses of $40 billion. Kwon went into hiding last year after an arrest warrant was issued for him in South Korea, and Interpol later issued an international arrest warrant. US authorities have also filed an indictment against him and will try to extradite him.
