Why did South Korea arrest Kwon?

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.

Who is do Kwon?

A South Korean court has issued an arrest warrant against Do Kwon, the co-founder of the now defunct stablecoin issuer Terraform Labs, according to the financial crimes unit of the Supreme Prosecutors' Office. The warrant included five additional individuals, Bloomberg News reported, citing a text message from the prosecutors' office.

What happened to do Kwon?

Do Kwon flew to Singapore in May - before Terra crashed - but the authorities say he's no longer there. South Korean prosecutors had asked Interpol to place him on the red notice list - a request it has now complied with - and asked the foreign ministry in Seoul to revoke his passport, saying that Do Kwon was "on the run".

Is Mr Kwon in hiding?

Mr Kwon has previously denied he was in hiding but never revealed his location. News of his arrest was first shared by Montenegro's interior minister Filip Adzic, who said on Twitter that "one of the world's most wanted fugitives" had been detained at Podgorica's airport.