Terraform Labs founder Do Kwon has been granted €400,000 bail and house detention by a court in Podgorica, Montenegro. Kwon and a fellow South Korean have been accused of travelling on fake documents. The pair were detained on 23 March, with reports suggesting that Kwon, whose full name is Kwon Do-Hyung, was carrying a Costa Rican passport and was heading to Dubai. A trial started on 19 May. Kwon and his colleague had both pleaded not guilty to the charges. Kwon is also under investigation in the US and South Korea over the $40bn crash of Terraform’s cryptocurrency, Luna, and stablecoin, Terrausd, which left around 200,000 people with heavy losses.
