Arresting the man who caused the collapse of the dollar around the world... Raised $40 billion
Over the past months, the global economy has witnessed a strong collapse in the dollar, after huge sums of $40 billion were traded in cryptocurrencies, and after months of the crisis, the main culprit in the crisis was arrested.
South Korean police announced that they have finally arrested In Do Kwon, the fugitive cryptocurrency boss behind a $40 billion meltdown over trading in Terra, Diar, and Luna cryptocurrencies.
He was arrested in Montenegro and has since been charged with fraud by US prosecutors.
Cryptocurrency and the collapse of the dollar
His arrest comes after US regulators accused him earlier this year of masterminding a multibillion-dollar crypto-asset securities fraud.
South Korean authorities issued an arrest warrant for Kwon last September because they believe his cryptocurrency company has violated capital market rules.
To start the search for him, at first they thought he was in Serbia, and even sent officials to Belgrade to negotiate because the two countries do not have an extradition treaty, and Kwon previously denied that he was in hiding, but he did not reveal his location.
But the forces finally succeeded in arresting him, and the interior minister wrote: "One of the most wanted fugitives in the world" was detained at Podgorica airport.
He added that the honorable currency trader who caused the collapse of the world economy was traveling under a false name with forged documents. He said authorities were awaiting official confirmation of his identity. South Korean police confirmed on Friday that the suspect in Montenegro was Kwon, after his fingerprints matched official records.
Kwon has been charged with fraud by U.S. prosecutors, facing securities fraud, wire fraud, commodity fraud and conspiracy, according to the indictment filed in U.S. District Court in Manhattan on Thursday.
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