Another Crypto ‘Fraudster’ Arrested in Montenegro, Where Do Kwon Awaits Extradition: Reports

As a seasoned researcher with a knack for uncovering the intricacies of global finance and cybercrime, I can’t help but find myself drawn to these compelling cases that seem to intertwine across continents. The latest saga involving Roman Ziemian, the elusive co-founder of FutureNet, is yet another example of how digital currencies have become a double-edged sword, offering unprecedented opportunities while also becoming a breeding ground for fraud and deceit.

Reportedly, Roman Ziemian, a Polish national and one of the founders of FutureNet, a digital currency trading platform, has been apprehended in Montenegro. This information is based on several sources referencing an official statement made by Montenegrin police, who claim that Ziemian is suspected of defrauding users to the tune of approximately $21 million.

In 2022, when Ziemian managed to flee house arrest in Italy, both Poland and South Korea took action by issuing international arrest warrants for him.

A joint law enforcement action, including Montenegrin officials and Interpol, led to the discovery of Ziemian, who was using a fake identity, hidden within a modern neighborhood development in Podgorica.

According to Radio Free Europe, officers from the Crime Fighting Sector’s High-Tech Crimes Unit and the Regional Security Center “Centar” seized equipment and items thought to be connected to a potential crime after conducting investigations.

The police have accused Ziemian of potential involvement in money laundering, theft, and breaking economic laws, or simply put, they believe he may have committed financial crimes.

In 2023, according to a report based on police information, FutureNet’s partner, Stefan Morgenstern, was detained first in Greece and subsequently in Albania.

It is decided that Ziemian will appear before a judge at the High Court in Podgorica for the purpose of determining the location of his extradition.

As a researcher, I am reporting that I currently find myself focusing on Montenegro, a location where Terraform Labs co-founder Do Kwn is residing, awaiting a final verdict regarding his extradition. The legal landscape has been witnessing an intense duel between South Korea and the United States, with both nations aggressively pursuing Do Kwon’s extradition. Since March 2023, he has been detained in Montenegro for using a counterfeit passport.