Do Kwon being led out of a Montenegrin court in handcuffs

Do Kwon, the founder of Terraform Laboratories and a key figure in the Terra-Luna coin debacle, was recently photographed leaving a Montenegrin court in handcuffs.

A rare video obtained by journalist Isabel Hunter shows Kwon and Terraform CFO Han Chang-joon being handcuffed and escorted separately to a police car.

This comes just one day after South Korean officials confirmed Kwon’s detention in Montenegro. According to CNN, Interpol confirmed Kwon’s arrest through a fingerprint match.

Following the collapse of the TerraUSD stablecoin and Luna token last May, Kwon was charged with violating South Korean financial rules. The highly publicized entrepreneur has been on the run since September when a Seoul court issued an arrest order, and Interpol issued him a red alert.

Last May, Luna, and the TerraUSD stablecoin lost their value in a matter of days, wiping out around $40 billion from the crypto market and kicking off the 2022 crypto winter.

Kwon was charged with fraud and violating South Korea’s capital markets law. He has consistently stated on Twitter that he is not “on the run” but has refused to reveal his current location. Kwon was allegedly hiding in Serbia before his detention in Montenegro.

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