Terraform Labs’ Do Kwon released on bail for second time

Terraform Labs co-founder Do Kwon has been granted bail in Montenegro following the dismissal of an appeals process by prosecutors.

Terraform Labs co-founder Do Kwon has been granted bail in Montenegro following the dismissal of an appeals process by prosecutors.

The Securities and Exchange Commission was granted permission by a US judge to search Singapore for Terraform Labs and founder Do Kwon-related records.

Reportedly, Kim & Chang's lawyers also visited Montenegro to meet with Kwon and Terraform’s former chief financial officer, Han Chang-joon.

South Korean prosecutors are attempting to obtain a court order to freeze Do Kwon's national assets, valued at $5.3 million.

Do Kwon allegedly converted his illicit funds into Bitcoin through an overseas crypto asset exchange, making it impossible for South Korean authorities to recover or freeze his property