May 15, 2023 12:40
Do Kwon, the 32-year-old cryptocurrency fraudster behind the spectacular collapse of the TerraUSD and Luna cyber coins, is set to be freed on bail in Montenegro.
A district court in Podgorica, where Kwon was arrested for traveling on a false passport, said on its website last Friday that it authorized Kwon and an associate surnamed Han to be freed on bail of 400,000 euros.
Kwon told the court that he owns an apartment in Korea worth US$3 million.
The court said it judged the money to be adequate protection against Kwon eloping. It added that allegations that he used a forged Belgian passport cannot be proven within the legal detention period.
Kwon remains under surveillance and is banned from leaving the court's jurisdiction under the terms of his bail. He must show up for trial in the same court on June 16.
Kwon and Han were arrested at Podgorica Airport on March 23 while trying to board a flight to Dubai on forged Belgian and Costa Rican passports.
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