How Crypto Fugitives Evade the Authorities

Authorities arrested fugitive Do Kwon at a Montenegrin airport. How easy would it have been to avoid capture?

Do Kwon, the cryptocurrency fugitive behind Terra crisis, is facing charges of forging official documents following his arrest by Montenegrin police. On Thursday, police nabbed Kwon and a second individual at Podgorica airport while they were attempting to board a flight to Dubai. Police reportedly found forged Costa Rican and Belgian passports in their luggage.

Kwon had been a fugitive for several months, with South Korean authorities issuing an arrest warrant for him last September. The Montenegrin police confirmed on Friday that the arrested suspect was Kwon after his fingerprints matched information held by South Korea’s National Police Agency.

Kwon is also under indictment by the US District Court in Manhattan on eight counts, including securities fraud and conspiracy. The criminal case follows civil charges by the Securities and Exchange Commission against Kwon and Terraform Labs in February. Moreover, Kwon is the subject of an Interpol “red notice.”

We wondered how easy would it be, given the current state of laws and regulations, to escape the long arm of the law as a crypto fugitive. (BeInCrypto obviously does not condone any illegal activity.)

Kwon Sought the Right Country

Following a tip about Do Kwon’s location, South Korean authorities confirmed on Dec. 11 that he was in Serbia. The fugitive had reportedly moved there after relocating to Singapore just before Terra’s collapse. But why would an international fugitive hide in Serbia?

Turns out, it was probably a wise move. Serbia and South Korea do not share an extradition treaty which would have sped up the process of Do Kwon’s removal to his home country. However, the law has a long arm. South Korean officials stated on Feb. 7 that they sent at least two people to Serbia to track him down. Serbian authorities later confirmed that they were working with their South Korean counterparts to find him.

On Feb. 23, the Securities and Exchange Commission (SEC) in the US charged Do Kwon with defrauding investors. Which, to put it m

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Author: Josh Adams

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