On March 23, 2023, an individual suspected of being Do Kwon, co-founder and former CEO of Terraform Labs, was arrested in Montenegro. Kwon is wanted by Interpol for his alleged role in the $40-billion collapse of the Terra ecosystem in May 2022, and is also wanted by regulatory authorities in South Korea, Singapore, and the United States. South Korean authorities are still waiting for fingerprint information to fully verify the arrested individual's identity. Kwon had his passports revoked by South Korean prosecutors in October 2022 and has been alleged to be hiding in Serbia since December 2022. The United States Securities and Exchange Commission charged Kwon with orchestrating a multi-billion dollar crypto asset securities fraud in February 2023, and the US Department of Justice has been investigating Kwon's role in the Terra ecosystem collapse since March.
