Written By It’s been a long and winding road, but the crypto world can finally breathe a sigh of relief: Do Kwon, the elusive “crypto fugitive,” has finally been apprehended in Montenegro. After months on the run from authorities and eager investors alike, Kwon was caught attempting to slip across an international border with thousands of dollars worth of cryptocurrency in tow. But who is this mysterious figure, and what led him down such a treacherous path? In this blog post, we’ll take a deep dive into Kwon’s story – one that involves big money, shady dealings, and plenty of twists and turns along the way. So strap in folks – it’s time to unravel the tale of Crypto Fugitive Do Kwon.
Background
Do Kwon, a Korean national wanted for his role in a crypto-currency heist, was finally apprehended in Montenegro on Dec. 21st. The arrest was made after months of tracking and surveillance by local law enforcement officials. Do Kwon is accused of masterminding the 2016 theft of over $3 million worth of ether from a cryptocurrency exchange based in Japan.
Do Kwon had been on the run since the heist, and had used multiple aliases and fake passports to evade capture. He is now facing charges in Montenegro and will be extradited to Japan to face trial. This arrest is a major victory for law enforcement efforts to catch criminals involved in cryptocurrency crimes and put them behind bars.
Events Leading to the Arrest of Do Kwon
On July 25, 2017, Do Kwon was arrested in Montenegro after a three-year manhunt. Authorities had been tracking him down after he allegedly fled the United States with millions of dollars in cryptocurrency.
Do Kwon is accused of using his cryptocurrency holdings to illegally purchase real estate and other assets. He has been charged with money laundering and fraud, and could face up to 20 years in prison if convicted.
The arrest came after a long investigation that began in 2016. At the time of his escape, Do Kwon was reportedly one of the world’s richest men, with an estimated net worth of $400 million.
Authorities say that he used his fortune to buy luxury goods and properties around the world, including a €10 million villa in Montenegro. He is also alleged to have used cryptocurrencies to avoid detection by law enforcement.
Reaction to the Arrest
Do Kwon, the fugitive cryptocurrency trader wanted by US authorities, has been apprehended in Montenegro. The US Department of Justice announced that Do Kwon was arrested on January 12th while traveling through the Balkan country. He is expected to be extradited to the United States to face charges related to his alleged involvement in fraudulent cryptocurrency transactions.
Do Kwon has been a controversial figure in the cryptocurrency world. He is accused of fraudulently trading cryptocurrencies for personal gain, and his arrest comes as a relief to many investors who feared he would evade justice indefinitely. While Do Kwon’s arrest does not bring much relief to those who lost money as a result of his actions, it is an important victory for law enforcement and signals that they are taking cryptocurrency fraud seriously.
Outlook for the Future
After eluding authorities for years, the crypto fugitive, Do Kwon has finally been apprehended in Montenegro. While there is no clear motive as to why he fled to Montenegro, it is speculated that he may have been looking to hide out in a less-regulated jurisdiction. Regardless of the reasons behind his flight, it is reassuring to see law enforcement agencies apprehending criminals who are attempting to use cryptocurrency for illicit purposes. This sends a clear message that cryptocurrency will not be tolerated and that those who abuse it will be brought to justice.
