Do Kwon arrested

[dr.hopkins]

It's important to remember that an arrest doesn't necessarily mean guilt, and we should wait for more information before making any assumptions.

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[buwaytress]

Surprised he didn't last longer, really. Thought his money would have taken him far.

I find it a bit weird and stupid for him to use a European airport, despite not being part of the EU Montenegro has a ton of extradition treaties, and with him on the Interpol list, there is no chance they will not deport him. Pretty a stupid move, he should have fled to some south Asian country instead.

Probably easier to move around there, true, but then he probably also fears the retribution that he is likely to run into with the deep networks of triad members who would have found him a bit more easily than in Europe. I'd wager he felt safer dealing with the higher risk of formal enforcement than with the lower but deadlier risk of informal street justice.

[Lucius]

Well, who is to say that Serbs woulnd't arrest him with fake documents if he tried fly to Russia? But even if he managed to reach Russia, I am not so sure that he would find any protection in Russia as he is not Snowden or someone of that caliber so Ruissia has some actual interest to protect him.

I somehow believe that he would have done much better if he had flown from Serbia than if he had gone to Montenegro. A few months ago, there were rumors that he was last seen in Serbia, and it is logical to assume that he arrived in that country by plane and passed control at the airport. The question is how the facial recognition system they use when checking every passenger didn't detect it in Serbia, but it did in Montenegro?

Serbia is a country where you can get almost anything you can think of for money, and it also has direct flights with Moscow. De Kwon obviously wanted to travel to a slightly better location than Russia, and that cost him his freedom. As for me, let him rot in prison for the rest of his life, even though the damage he caused is measured in tens of billions of $ that no one will be able to compensate for, the fact that he is no longer free is still a small consolation for the victims.

[Rikafip]

I somehow believe that he would have done much better if he had flown from Serbia than if he had gone to Montenegro. A few months ago, there were rumors that he was last seen in Serbia, and it is logical to assume that he arrived in that country by plane and passed control at the airport. The question is how the facial recognition system they use when checking every passenger didn't detect it in Serbia, but it did in Montenegro?

Maybe he came to Serbia before Singapore issued arrest warning and cancelled his passport and only after that happened he got stuck there? My guess is that his plan was never to actually stay in Serbia and instead move someplace safer as Europe is generally a very bad place to hide but since his passport got cancelled, he had to make another plan (getting fake documents and then trying to fly from Montenegro).


By the way, no wonder that he got caught as allegedly this is the document he tried to use (I sure hope there are some movie connoisseurs here).

[ektotanes]

In fact, I'm disappointed that these catch-ups have lasted so long. Why did it take them so long to arrest him? It feels like they haven't even dealt with this issue all this time.

[Lucius]

~snip~

What you say is possible, although we know that Interpol issued a warrant for him very soon after the collapse of his project and at the time when the news that he was in Serbia appeared, his original passport should have already been canceled and I doubt that he used it. However, it turned out that even those who have a lot of money do not have to be intelligent, because people of that profile (internationally wanted) hire a private plane/ship or whatever and disappear without having any problems with border controls.

Rich and spoiled characters like De Kwon or Bankman probably consider all this to be a game with high stakes, and time will tell if the game was successful or if they will become roommates in prison.

[Furious 7]

Seeing that some of the reports are still confusing, in fact there is the word "allegedly" which is indeed one of the things that is quite ambiguous in my opinion.

It would be great if somebody indeed confirmed the news rather than merely speculating that it was him.

And why are people still holding that garbage token LUNA anyway? It will never rise up again. Not after it brought the entire industry to its knees.

I saw some reports that said it was still not certain because there was still no further confirmation about this, but it was said that during the arrest there were two people who were arrested after they tried to get on a plane to Dubai. The two of them had forged Costa Rican and Belgian passports which were allegedly Do Kwon's. I haven't found any information when it's been confirmed.

Talking calmly, these Luna holders seem a little naive, even though they are actually aware that their condition clearly will not be as before and with their current condition I can feel how frustrated they are

[coolcoinz]

By the way, no wonder that he got caught as allegedly this is the document he tried to use (I sure hope there are some movie connoisseurs here).

Do Kwon wasn't superbad, rather supergreedy. Somebody should tell his prison guards to frequently perform strip searches as he might be hiding a micro sd card full of people's crypto
Also, I'm not surprised he got caught. The license expired in 2008

He wasn't very smart. According to the news, he was using a Belgian and a Costa Rican fake documents. Somebody should tell him there aren't many people who look Asian in Costa Rica, and he'd have a better chance posing as a citizen of an Asian country.

[Rikafip]

Rich and spoiled characters like De Kwon or Bankman probably consider all this to be a game with high stakes, and time will tell if the game was successful or if they will become roommates in prison.

That's for sure. Just remember when someone warned him on Twitter few months before shit hit the fan how easily his stablecoin can get rekted and he mocked and dimissed the guy, instead taking it as a warning. Regarding them being roomates, won't Do Kwon be extradicted to Singapore?

He wasn't very smart. According to the news, he was using a Belgian and a Costa Rican fake documents. Somebody should tell him there aren't many people who look Asian in Costa Rica, and he'd have a better chance posing as a citizen of an Asian country.

I think that Do Kwon is far from stupid (at least based on his CV prior to Terra) but he is obviously not a criminal mastermind because of the way he got caught. I mean, who in the right mind goes to Europe when you are on the run and have access to all that money?

[Lucius]

That's for sure. Just remember when someone warned him on Twitter few months before shit hit the fan how easily his stablecoin can get rekted and he mocked and dimissed the guy, instead taking it as a warning.

There is also that video in which he says that he enjoys watching companies fail, and who knows, maybe it's some pathological disease that culminated in him destroying even his own project. Although some information circulating on the internet says that this is not the first project he has failed, it is certainly the biggest.

Regarding them being roomates, won't Do Kwon be extradicted to Singapore?

His extradition was also requested by the US, now it's just a question of who wants him more, or better said, who has better connections in Montenegro. In case the US shows that they really want it, I think that their allies (South Korea) will make it possible for them.

A few hours after Kwon's arrest, US authorities accused him of participating in the collapse of the Terra/LUNA stablecoin, which caused the loss of around $40 billion in the cryptocurrency market, and charged him with eight criminal offenses, including securities fraud and conspiracy.

Do Kwon, who is wanted in South Korea and the US on allegations of fraud, has been apprehended in Montenegro, according to Interpol. Kwon now has criminal cases pending against him in both the US and South Korea, so it's unclear which nation he will be transferred to first.

Kwon's extradition to New York will be sought by US federal prosecutors, who have also stated that South Korea will request his extradition.

You were also right about the revocation of his passport, and it seems that it was valid at least until September 15, 2022, and maybe even longer, which means that he entered Serbia or Montenegro with his passport.

According to reports, South Korean prosecutors asked the regional foreign affairs ministry in October to revoke Kwon's passport if he did not return it by September 15th. It appears that Kwon's passport, which had not been returned by that point, was revoked.

Source

[zasad@]

I may not have read all the latest news, but the Montenegrin police detained a man who looked like Do Kwon. His fingerprints have not yet been verified and the data has not been transferred to Korea.
____
A little humor. When a person is detained in Montenegro, whose capital is several times greater than the GDP of Montenegro, the Montenegrin authorities will be interested in cooperation with him

[coupable]

It's important to remember that an arrest doesn't necessarily mean guilt, and we should wait for more information before making any assumptions.

His suspension means that there is a file of conviction awaiting him, and I, the investigators, are suspicious of him, and this is of course based on evidence and facts. If he wasn't guilty, why did he disappear after Luna collapsed. It doesn't take much intelligence.
The most important question remains who will be responsible for his request from the country in which he was arrested, Korea or the United States. In any case, I do not think that he will be able to prove his innocence, nor to compensate the users' losses.

[Rikafip]

I may not have read all the latest news, but the Montenegrin police detained a man who looked like Do Kwon. His fingerprints have not yet been verified and the data has not been transferred to Korea.

Hah you indeed missed latest news as Interpol already confimed that they verified fingerprints and that person arrested a couple of days ago is indeed Do Kwon. Now the only question is who will get him, South Korea or Unites States. Former makes more sense as he is their citizen and they issues warrant first, but we all know how "persuasive" US can be.

Interpol says a man arrested in Montenegro is Kwon Do-hyeong, also known as Do Kwon, the disgraced founder of a collapsed crypto company who is wanted in South Korea and the United States on fraud and other charges.

Kwon, a South Korean national, founded the blockchain platform behind the TerraUSD stablecoin and its sister coin Luna. Both coins lost their value in a matter of days in May 2022, wiping about $40 billion from the crypto market and setting off panic across the speculative sector.

Kwon’s identity was confirmed through a fingerprint match, Interpol’s national central bureau in Seoul told CNN on Friday.

[safar1980]

Do Kwon registered a company in Serbia just three weeks after Interpol issued a Red Notice for him in September, DL News can reveal.

Official records obtained from the Serbian Business Registry show Kwon opened a company called “Codokoj22 d.o.o. Beograd” on October 12. The address listed is in the old town of the Serbian capital’s city centre.

It is not possible to search the Serbian Business Registry by the names of the individuals. Registry officials confirmed to DL News on Friday that two South Koreans named Do Kwon and Han Chang-Joon were listed with a company number.

[yhiaali3]

Good news he was finally arrested after all this time, but what next?

Will the case be reopened, will he be able to return the millions of dollars the investors lost in Luna?

I doubt he will be able to, most likely he will have laundered the money he stole and they will not find enough money with him to compensate those affected.

[virasog]

It's important to remember that an arrest doesn't necessarily mean guilt, and we should wait for more information before making any assumptions.

This is really a strange statement. Do you think he is not guilty of anything? He was the CEO of Terraform labs and he is only responsible for this TerraUSD and Luna crash scam. People have hard earned money invested in this stable coin and he was unable to peg it to a dollar, even though he claimed that he has a lot of funds for backup/reserve in case of a mishap.

Will the case be reopened, will he be able to return the millions of dollars the investors lost in Luna?

No money will be refunded to LUNA investors, and it was really a disaster for all the investors who trusted this project. Luna was a very hyped project and i think all the cryptocurrencies investors had some part of the portfolio in this coin and everyone has lost money in this scam.

[Lucius]

@safar1980, thank you for sharing the article, it is very interesting information and just one more proof that Serbia is a country for every criminal looking for a safe haven. You can live there without fear of being caught or extradited, and for $1 you can open a company and continue what you were doing before.

One detail from the article is particularly interesting to me, because it claims that investigators from South Korea visited Serbia in January of this year, but the Serbian authorities allegedly did not know where De Kwon was, even though he had officially registered the company under his own name. Knowing their mentality, I believe that they wanted to avoid the arrest happening on their soil, which they managed in the end - and now I wouldn't be surprised if they concluded that De Kwon and his helper were in Montenegro the whole time.

[safar1980]

@safar1980, thank you for sharing the article, it is very interesting information and just one more proof that Serbia is a country for every criminal looking for a safe haven. You can live there without fear of being caught or extradited, and for $1 you can open a company and continue what you were doing before.

One detail from the article is particularly interesting to me, because it claims that investigators from South Korea visited Serbia in January of this year, but the Serbian authorities allegedly did not know where De Kwon was, even though he had officially registered the company under his own name. Knowing their mentality, I believe that they wanted to avoid the arrest happening on their soil, which they managed in the end - and now I wouldn't be surprised if they concluded that De Kwon and his helper were in Montenegro the whole time.

I think that in not rich poor countries you can find a refuge for any criminal. He could spend some of the stolen capital to legalize himself in this country. But if he is deported to the US, then investors will not receive money.

[zasad@]

https://protos.com/do-kwon-faces-grim-year-in-montenegro-jail-lawyer-says/
“Upon arrest, you’re held in quarantine for 10 days to ensure you’re not suffering from Covid-19,” they told Protos. “The rooms are pretty okay — you’re sharing with just one or two people. But after the quarantine period, detainees are moved to a general facility along with others awaiting trial.”

The conditions here are far worse than quarantine. “Rooms are 8 meters squared and very crowded,” the lawyer explained. “There’s about 10 to 11 people in a room — there’s usually not even a bed.“

Regarding which country may ‘win’ extradition, Kovac explained: “When we receive several extradition requests it’s based on several factors — the severity of the offence, the location and the time, and the order that we received the request, and several other factors.” Ultimately, it’s up to Montenegro courts to decide, but Kovac’s comments suggest that South Korea has the upper hand.

[YOSHIE]

According to Bankless, Do Kwon (The founder of Luna/USDT) has been arrested in Montenegro:

https://twitter.com/BanklessHQ/status/1638891838881910785

I think Do Kwon's actions in the crypto world as CEO of Terraluna are classified as acts of robbery, fraud, theft and public deceit, I consider it an obligation and must be punished with severe punishment for Do Kwon by the local authorities.

Do Kwon's arrest can be a deterrent effect and fear for other CEOs who commit acts that are not commendable and harm the wider community, Do Kwon needs to be given a severe punishment that is truly deterrent.

I am personally happy to hear that Do Kwon was arrested, even though I was also one of the victims of LUNA some time ago, I hope the authorities give him the appropriate punishment for his actions to people around the world.