Do Kwon, co-founder and CEO of TerraForm Labs, is back in the news as he might finally be able to walk out of the prison in Montenegro where he is currently under arrest.
Do Kwon, who is also known as Kwon Do-Hyung, is at the center of controversy surrounding Terra (LUNA), with some suspecting his involvement in the recent crash of Terra USD and Luna.
Kwon, who made headlines after his attempt to flee Montenegro with a fake passport, is now set to be released from jail pending trial. A local news site reported that a Montenegro court accepted a €400,000 ($436,000) bail for his release.
Do Kwon, the man responsible for causing the biggest crypto market crash in 2022, resulting in almost $40 billion in losses, was caught in late March while attempting to escape to Dubai at Podgorica airport in Montenegro using a fake passport.
According to the conclusion of the hearing notice, “Instead of detention, the defendant’s lawyer suggested that bail and supervision measures be imposed, prohibiting them from leaving the apartment and periodically reporting to a certain state authority.”