Terraform Labs founder Do Kwon has been released on bail of $436,000.
Montenegrin news site Pobeda announced the release of Terraform Labs founder Do Kwon for $436,000. The Montenegrin court granted Do Kwon’s request to be released on bail, which his lawyers reported.
Along with this coffee payment, Do Kwon is expected to be tried pending trial. Previously, a similar decision was made for Sam Bankman-Fried, the founder of FTX.
Do Kwon’s Request Granted
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.
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.
Kwon, who was arrested in Montenegro in April and whose legal proceedings have been initiated, will continue to be tried pending trial. Kwon is facing charges such as fake passports, fraud and victimizing investors.
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