Terraform Labs Founder Do Kwon Granted Bail in Montenegro, Maintains Innocence

Do Kwon, the founder of Terraform Labs, has been granted bail of €400,000 ($435,000) by a Montenegrin court, but will be placed under police surveillance at a local residence. Kwon and another South Korean citizen are charged with attempting to use forged personal documents in Montenegro. Both have pleaded not guilty. Kwon is also wanted by authorities in Seoul and the US in connection with the $40bn crash of the Terraform ecosystem's cryptocurrency luna and stablecoin terrausd.