Terra Luna founder Do Kwon appeals pre-trial detention

You may have noticed that Do Kwon, the founder of Terra (LUNA), which spectacularly imploded in May 2022, was recently arrested in Montenegro. Do Kwon allegedly attempted to flee the country on March 23 with a false ID. Do Kwon is now in detention in Montenegro and is appealing against an attempt by authorities to detain him for up to 30 days.

Terra founder with false documents

Do Kwon tried to fly to Dubai from Podgorica airport with false documents on March 23. That did not work out, so it seems that the South Korean authorities are finally getting their way and that Do Kwon may soon be brought to justice for his actions in his country of origin.

Normally in Montenegro it is possible to detain suspects for a period of 72 hours, but for Do Kwon they are now looking for an extension to a period of 30 days. The reason for this is that, according to the authorities, there is a high chance that he will try to escape.

The judge is of the opinion that Do Kwon is a foreigner whose identity is difficult to establish with certainty. Since the collapse of Terra, Do Kwon is believed to have shuttled between Singapore, Dubai and Serbia while on the run from South Korean authorities.

US charges against Do Kwon

For the crypto industry, it is hoped that justice will be served soon and that this will show other would-be scammers what fate awaits them if they consider defrauding investors on a large scale. A few hours after Do Kwon’s arrest in Montenegro, US prosecutors decided to charge him with fraud. As a result of the arrest of the ‘entrepreneur’, the price of LUNA fell by 8.2 percent to a price of $ 1.31.