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A person suspected to be Do Kwon, founder of the Terra blockchain that collapsed in spectacular fashion last year, has been arrested in Montenegro, Yonhap reported, citing South Korean police.

Police are awaiting a reply from local authorities in Montenegro after requesting fingerprints for final identification, Yonhap said. The report followed an unverified tweet attributed to Montenegro’s Minister of Interior Filip Adzic that said a person suspected to be Do Kwon had been arrested at the airport in the capital city of Podgorica.

Officials contacted in Montenegro by The Block were not immediately able to confirm the information. 

TerraUSD, the stablecoin created by Terraform Labs and often known by its ticker UST, collapsed in May 2022, wiping out tens of billions of dollars for investors. The incident was the first of a series of crises to hit crypto markets over the course of 2022, including the bankruptcies of crypto lender Celsius and exchange giant FTX. A South Korean court issued an arrest warrant for Kwon, a Korean national, in September, saying he breached capital markets laws. 

Korean prosecutors reportedly traveled to Serbia, which borders Montenegro, in February in an effort to track down Kwon. 

Separately, the U.S. Securities and Exchange Commission brought civil charges against Kwon last month, accusing him of failing to “provide the public with full, fair and truthful disclosure as required for a host of crypto asset securities.”

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