Breaking: Terra Founder Do Kwon Released on Bail in Montenegro
Former founder and CEO of Terraform Labs, Do Kwon, has been released from custody in Montenegro, pending a decision on extradition requests. The Podgorica Basic Court officially announced that Terraform Labs founder Do Kwon and his former chief financial officer, Han Chong-Joon, have been granted bail. The release comes as the Balkan country's Supreme Court weighs competing extradition requests from the United States and South Korea.
According to media reports, the Basic Court of Podgorica released a statement agreeing to release Do Kwon on bail. He and another Terra executive, Han Chang-joon, agreed to pay. South Korean crypto fugitive Do Kwon has been released from prison in Montenegro. This development follows the State Prosecutors in Montenegro appealing against the bail terms of Terra/LUNA co-founder Do Kwon and chief financial officer Han Chang-Joon, highlighting the ongoing legal complexities surrounding his case.
While Terraform Labs co-founder Do Kwon has been released from prison in Montenegro, his legal battles are far from over. The Supreme Court deliberates on extradition requests from the United States. This is a developing story.