Prosecutors from the High Court in Podgorica revoked the bail conditions on the fact that it “could not establish the value of their assets just based on their statements.”
The Montenegro prosecutor's appeal revolves around the fact that the bail conditions for Do Kwon and Han Chang-Joon appear to be a slap on the wrist compounded by the flight risk posed by the duo.
Jump Trading entered into an agreement with Terraform Labs to manipulate UST to stay at $1 and in return purchased LUNA at a 99% discount, investors allege.
Terraform Lab's Do Kwon and Han Chang-joon would be subjected to house arrest under police supervision on a €400,000 (approximately $436,000) bail each.
South Korea is in an extradition battle with the United States for Do Kwon, who is currently facing passport forgery charges in Montenegro, as it promises a long sentence.
The lawsuit should be dropped as its protocols were developed overseas, according to Terraform Labs. It had been sued for selling unregistered securities.
Daniel Shin has continued to protest his innocence in the Terra debacle, with his lawyers arguing that he parted ways with the company in 2020 to start a new venture.
Do Kwon and his accomplice Han Chang-joon were arraigned before a Montenegrin Basic Court for holding fake Costa Rican passports—both could face up to five years if convicted.
Following the absence of Do Kwon’s funds in South Korea, prosecutors have written to Binance to freeze digital assets linked to the embattled Terraform Labs founder.
Arbitrum's market maker, Wintermute, received $40 million of ARB from Arbitrum as part of the $1 billion allocation.
Documents from the Serbian Business Registry confirmed that Kwon established a company called Codokoj22 d.o.o. Beograd with the principal business activity being consultancy services.
Do Kwon was arrested boarding a flight to Dubai with a second suspect, with forged Belgian and Costa Rican passports; meanwhile, the U.S. Department of Justice has unveiled eight charges against him.
