Many new developments continue to take place regarding Do Kwon, the co-founder of Terraform Labs. Most recently, Do Kwon was released from prison pending trial after a court in Montenegro accepted $436,000 bail.
Terra founder, LUNA swindler Do Kwon, has been released after a Montenegrin court accepted bail of $436,000. Do Kwon, the man behind the Terra crisis that cost the crypto industry more than $40 billion in damage, has been released on bail in Montenegro. The other day, a request was submitted to the Montenegrin court from Kwon’s lawyers. In this request, Kwon was asked to be released from prison on bail.
Kwon was arrested in Montenegro in April and charged with trying to leave the country using a fake passport. The stablecoin TerraUSD, created by Terraform Labs and commonly known by its code UST, crashed in May last year.
Montenegrin local media announced that the request of Kwon’s lawyers was accepted and the Terra founder would be released for a fee of 436 thousand dollars.
This news is Chip Online and BTCHaber prepared in collaboration.