The crypto neighborhood on Twitter is spreading info that the central figure of the LUNA-UST incident, Do Kwon, has been arrested.
On the evening of March 23, as the crypto neighborhood scrambled to declare the Arbitrum airdrop, a further noteworthy piece of info appeared, namely the arrest of Terraform Labs CEO Do Kwon.
In distinct, the Twitter account of the Minister of Interior of Montenegro mentioned that the authorities of this nation arrested Do Kwon for making use of false paperwork at the Podgorica airport. However, Montenegro is nevertheless awaiting distinct identity verification.
A “real cryptocurrency”, which has a worth of about forty million bucks, is found on a podgoričkom airfield with fake paperwork, and it could be Juzhna Koreja, Unhappy and Singapore.
Čekamo zvaničnu potvrdu identiteta.
two/two— Filip Adzic (@filip_adzic) March 23, 2023
If genuine, this is a new twist in the extended background of a single of the gravest crashes in the cryptocurrency marketplace.
In May 2022, the LUNA cryptocurrency and the UST stablecoin misplaced $60 billion in marketplace capitalization in just a couple of days, resulting in a big crash for the complete cryptocurrency market.
Do Kwon, as the CEO of Terraform Labs, the business that can make up LUNA and UST, is viewed by the crypto neighborhood as the title in charge. Despite this, this man or woman has repeatedly dodged summons from South Korean authorities, fled Singapore and is believed to be hiding in Serbia, a nation bordering Montenegro.
South Korean authorities then ordered the arrest and cancellation of Do Kwon’s passport, quite possibly forcing him to use false paperwork to depart the nation, foremost to his arrest by Montenegrin authorities.
In February, the US Securities and Exchange Commission issued an indictment towards Do Kwon, as properly as declaring LUNA-UST a stock.
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