Do Kwon out on bail once again after court dismisses prosecution appeal

and Terraform Labs’ chief financial officer Han Chang-Joon to await further legal proceedings under house arrest in the country., with the pair having to pay $436,000 each to be released from custody. Do Kwon and Chang-Joon are now under strict bail terms and are unable to leave the latter’s formal residence in Montenegro.

The pair are set to be closely monitored by local police. If either of the two Terraform Labs’ duo leave the residence or violate supervision measures, the bail will be forfeit. Kwon and Chang-Joon provided personal and financial information to local authorities which included evidence of a sales contract and property registration for an apartment, parking space and basement owned by Chang-Joon.

Kwon reportedly supplied an invoice for a vehicle as well as bank accounts statements, with the bail terms set so that the defendants would be discouraged from attempting to flee the country.

The court readopted bail terms originally set out in a hearing on May 12, with the pair having to pay 400,000 euros ($436,000) each to be released from custody. Kwon and Chang-Joon are now under strict bail terms and cannot leave the latter’s legal residence in Montenegro.

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