The founder and CEO of Terraform Labs will have to post a bail of more than $400,000 and comply with strict supervision requirements if he wants to be released on bail.
According to new information from the media in Montenegro, a branch of the Podgorica District Court has approved a second bail request against Do Kwon, co-founder of Terra Luna, and Han Chang-joon, former director finance director. This means they will have the opportunity to be released on bail again after their arrest in a southeastern European country, with a bail amount determined to be around 400,000 euros ($436,000), according to the report. words of lawyer Branko Andelić.
This requires the two to comply with strict supervision requirements and post bail in order to be released on bail. Conditions and regulations to be applied in this case will be decided by the Court and competent authorities.
The court considered the seriousness of the crime, the personal and family circumstances of the defendants, as well as their financial condition and the authenticity of the documents and identity cards. Do Kwon’s attorney has asserted that his Costa Rican passport is legitimate. If the defendants abscond or violate the measures imposed, the court has the power to recover bail and this money will be added to the court’s budget. Notably, bringing Do Kwon to Korea or the US only happened after he served his sentence in Montenegro.
This ruling has created positive momentum for the Terra Classic (LUNC) token price. Currently, LUNC is trading at a price of 0.000098 USD, with a trading volume of 428,067,470 USD. This token price has increased 10.16% within 24 hours and increased by 13.12% within the past 7 days.
Related news : The High Court of Montenegro rejected Do Kwon’s request for bail