Do Kwon, the fraudster behind the failed stablecoin project Terra, was arrested in March. A Korean national who studied at Stanford and based his operations out of Singapore, Kwan had been on the run, using a falsified Costa Rican passport in hopes of reaching Dubai. But when law enforcement finally caught up to him, they nabbed the crypto baron in the most unlikely location: the tiny Balkan nation of Montenegro.
The news puzzled many crypto watchers as Montenegro is not a stop on the conference-heavy blockchain circuit, and few would be able to identify the coastal nation—which lies north of Albania—on a map. But those familiar with the country’s political affairs wouldn’t have been less surprised to discover that Do Kwon had chosen the Adriatic statelet as a hideout.
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