Terra LUNA crashed after its Terra UST stablecoin was destroyed.
Following the crash, a hard fork was held where Terra LUNA tokens were created.
There is news that Terra LUNA’s founder Do Kwon has been arrested.

After news about Do Kwon’s arrest as Terraform Labs founder, Terra (LUNA), the Terra (LUNA), price dropped by around 7%. LUNA traded at $1.31 as of press time.

There are reports that Do Kwon was arrested in Montenegro; something that has been confirmed by Montenegro’s minister of interior Filip Adzic through a post on Twitter.

U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACA

Crnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni direktor Terraform Labs sa sjedištem u Singapuru.
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— Filip Adzic (@filip_adzic) March 23, 2023

This is a translation of the tweet:

“Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.”

Adzic says Do Kwon, who was carrying falsified papers, was taken into custody at the Podgorica Airport. The minister however said that he was “still waiting for official confirmation of identity.”

Do Kown was wanted by many authorities

Do Kwon was the target of a number of investigation bodies around the globe and was even on Interpol’s red notice after the implosion of the TerraUSD (UST) stablecoin and the $40 billion Terra LUNA ecosystem last year.

The crypto market was shocked by the Terra LUNA crash, which caused a lot of other crypto projects and companies to collapse.