- Do Kwon was arrested in March when he tried to fly to Dubai.
- The CEO of Terraform Labs is needed in South Korea and the US on expenses associated to the collapse of TerraUSD and Terra LUNA.
- Kwon was convicted together with Han Chang-joon, the previous CEO of Chai, a South Korean funds app.
Within the newest cryptocurrency information, a Montenegrin court docket sentenced Terra founder Do Kwon to 4 months in jail after he was discovered responsible of utilizing a pretend passport.
Kwon was arrested in March
Kwon, who fled to Montenegro amid efforts by South Korea and the U.S. to seize him over the collapse of Terra LUNA and TerraUSD, allegedly tried to flee the nation with solid paperwork.
In keeping with reviews, the CEO of Terraform Labs was convicted together with Han Chang-joon, the previous CEO of Chai, a South Korean funds app.
Kwon and Chang-joon have been arrested in March after they tried to flee to Dubai, and prosecutors accused them of utilizing pretend passports with particulars from Costa Rica and Belgium. The 2 pleaded not responsible.
Kwon’s $400,000 bail was reportedly revoked by a superior court docket forward of the sentencing. The previous crypto tycoon, whose cryptocurrency platform collapsed in Could of final 12 months, wiping out greater than $40 billion in a matter of days.
Kwon is needed in South Korea and faces extradition to america, the place he has been indicted on a number of expenses, together with fraud.
