Do Kwon, the co-founder and CEO of TerraForm Labs, is once again making headlines due to the possibility that he could soon be allowed to walk out of the jail in Montenegro where he is presently being held.
Some people believe that Do Kwon, who is also known as Kon Do-Hyung, is responsible for the recent collapse of Terra USD and Luna and that he is at the crux of the dispute surrounding Terra (LUNA).
Kwon, who made headlines following his effort to depart Montenegro with a false passport, is now likely to be freed from prison awaiting trial. Kwon made headlines after his attempt to flee Montenegro with the phony passport. According to a local news website, a judge in Montenegro agreed to release him on bond in the amount of €400,000 (about $436,000).
Do Kwon, the guy responsible for instigating the greatest meltdown in the crypto market in 2022, which resulted in approximately $40 billion in damages, was apprehended at the end of March while trying to flee to Dubai at the Podgorica airport in Montenegro using a false passport. The airport is located in Podgorica, which is located in Montenegro.
According to the conclusion of the hearing notice, “Instead of detention, the defendant’s lawyer suggested that bail and supervision measures be imposed, prohibiting them from leaving the apartment and periodically reporting to a certain state authority.” These are the conditions that would be placed on the defendants.
Compiled by Coinbold