Do Kwon and Han Chang-joon, according to their attorneys, may be granted bail and limited mostly to an apartment in Montenegro with the “obligation to periodically report to the state authority.”
Do Kwon and Han Chang-joon are being charged in Montenegro by authorities despite the co-founder of Terra’s attorneys asking for bail conditions.
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Kwon and Chang-joon’s attorneys requested they be placed under home arrest after posting 400,000 euros ($436,000 at the time of publishing) apiece in bond, according to a May 11 notification from Montenegro’s judicial system. Under such circumstances, the legal team claimed, the two defendants may be forced to live in a Montenegro apartment and would have the “obligation to periodically report to the state authority.”
Through their attorneys, Kwon and Chang-joon have refuted the allegations, and the prosecution is against the suggested bail restrictions. On June 16, their criminal trial is anticipated to start.
One of the first catastrophes in 2022 that started a significant crypto market fall was the depegging of the TerraUSD stablecoin (UST at the time) and the collapse of Terra. According to reports, Kwon’s personal assets, estimated to be worth $176 million, have been blocked while his criminal case is being handled by South Korean authorities.