Do Kwon: Fugitive 'cryptocrash' boss arrested in Montenegro

South Korea police say that Do Kwon, the fugitive cryptocurrency boss behind the $40bn (£32.5bn) collapse of the terraUSD and Luna tokens, has been arrested in Montenegro.

He has since been charged with fraud by prosecutors in the US.

Earlier this year US regulators accused Mr Kwon and his company Terraform Labs of "orchestrating a multi-billion dollar crypto asset securities fraud".

The firm did not immediately respond to a BBC request for comment.

South Korea authorities issued an arrest warrant for Mr Kwon last September as they believed Terraform Labs had violated capital market rules.

They had thought he was in Serbia, and even sent officials to Belgrade to negotiate, since the two nations do not have an extradition treaty. read more