On September 10th, 2021, the Interior Minister of Montenegro confirmed the arrest of Do Kwon, the founder of Terra, a blockchain-based payment platform. Kwon was arrested for allegedly using fake documents to enter the country.
According to reports, Kwon arrived in Montenegro on August 31st, 2021, and was detained by the police at the airport. The authorities discovered that his passport had been altered, and that he had used a fake driver’s license to enter the country.
Kwon was taken into custody and is currently being held in a detention center in the capital city of Podgorica. He is facing charges of forgery and using fake documents, which carry a maximum sentence of three years in prison.
The arrest of Kwon has sent shockwaves through the cryptocurrency community, as Terra is one of the most popular blockchain-based payment platforms in the world. The platform has been used by millions of people to make transactions in various cryptocurrencies, including Bitcoin and Ethereum.
The company has not yet released an official statement on Kwon’s arrest, but sources close to the company have said that they are working to resolve the situation as quickly as possible. They have also assured users that their funds are safe and that there will be no disruption to the platform’s services.
This is not the first time that Kwon has been in trouble with the law. In 2014, he was arrested in South Korea for allegedly running an illegal online gambling site. He was later acquitted of all charges.
The arrest of Kwon highlights the importance of using legitimate documentation when traveling abroad. It also serves as a reminder that even high-profile individuals can be subject to the law if they break it.
In conclusion, the arrest of Do Kwon, the founder of Terra, for using fake documents to enter Montenegro is a significant event in the cryptocurrency world. It serves as a reminder that even those at the forefront of technological innovation must abide by the law. The situation is still developing, and it remains to be seen what impact this will have on Terra and its users.
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