Crypto Businessman Arrested

A cryptocurrency entrepreneur has been arrested in Montenegro. Interpol announced the arrest of Do Kwon, the founder of two cryptocurrencies, TaraUSD and Luna. Kwon Do-hyun, commonly known as Do Kwon, is a South Korean citizen. The 31-year-old and a second suspect were stopped at a Montenegro airport, attempting to board a flight for Dubai. Police said they found forged Costa Rican and Belgian passports in their luggage. TaraUSD and Luna cryptocurrencies both crashed in May 2022. Their demise caused a market drop of about $40 billion in a matter of days.

The value of TaraUSD was below one penny. Kwon is said to have been a fugitive for several months. South Korean authorities issued an arrest warrant for him in September on allegations of fraud. The US Securities and Exchange Commission also has eight civil charges against him, including fraud and market manipulation. This is Inside Edition Digital.

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