• Terra LUNA crashed last year following the collapse of the Terra UST stablecoin project.
  • The crash was followed by a hard fork that created the current Terra LUNA token.
  • There is news that Terra LUNA founder Dokwon has been arrested.

After news of the arrest of Terraform Labs founder Do Kwon surfaced, the price of Terra (LUNA) fell about 7%. At the time of writing, LUNA was trading at his $1.31.

There are reports that Dokwon has been arrested in Montenegro. This was confirmed by Montenegro’s Interior Minister Filip Azic through a post on Twitter.

Here is the translation of the tweet:

“Montenegro police have detained a person suspected of being one of the most wanted criminals, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.”

According to Adzic, Do Kwon was arrested at Podgorica airport with forged documents. But the minister said he was “still awaiting official confirmation of his identity”.

Several authorities were looking for Do Kown

Do Kwon has been the target of many investigative bodies around the world and even received a red notice from Interpol last year after the TerraUSD (UST) stablecoin and $40 billion Terra LUNA ecosystem collapsed.

The implosion of Terra LUNA’s collapse sent shockwaves across the crypto market, causing many other crypto projects to collapse.

By Jules

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