Cryptocurrency creator caught with fake passports in Montenegro

Montenegrin police detained Do Kwon, the creator of the TerraUSD and Luna cryptocurrencies, whose value plunged by nearly $40 billion last year, at the Montenegrin capital’s Podgorica airport on charges of forging documents.

South Korean Do Kwon and his second suspect were caught trying to flee from Podgorica airport to Dubai with a fake Costa Rican passport. Police said Do Kwon also had fake Belgian passports in his suitcase.

The indictment against Kwon, one of the co-founders of Terraform Labs, which develops the TerraUSD and Luna coins, included charges of securities fraud, wire fraud, commodity fraud, and conspiracy.

Do Kwon, whose arrest warrant was issued by South Korean authorities in September last year, had been on the run for months.

Both coins crashed last May, with the price of TerraUSD dipping below $0.01.