Cryptocurrency news has been abuzz with the latest development in the case of Do Kwon, the co-founder of Terraform Labs. After an intense legal battle, Do Kwon has been granted bail once again in Montenegro
Background on Do Kwon’s Case
Do Kwon’s legal troubles began when he faced allegations of fraud in South Korea and the United States. The co-founder of Terraform Labs found himself embroiled in a legal battle that threatened to impact his reputation and the future of the company. The charges led to his arrest and subsequent detention in Montenegro, where the extradition process was initiated.
The Recent Development in Montenegro
On June 2, the Podgorica district court in Montenegro dismissed the appeals made by prosecutors, leading to Do Kwon’s release on bail.
Montenegro Court’s Acceptance of the Bail Request
Following the dismissal of the appeal, the Montenegro court handling Do Kwon’s case accepted his bail request of 400,000 euros ($428,000). This decision came after a higher court annulled a previous approval, causing further uncertainty in the case. However, the recent acceptance of the bail request brings a glimmer of hope for Do Kwon and his supporters.