• Dokwon was arrested in March whereas attempting to board a flight to Dubai.
• The CEO of Terraform Labs is needed in South Korea and the US on costs associated to the collapse of TerraUSD and Terra LUNA.
• Kwon was sentenced together with former CEO of South Korea-based cost app Chai Han Chang-jun.

Within the newest cryptocurrency information, a Montenegro courtroom has sentenced Terra co-founder Do Kwon to 4 months in jail after being discovered responsible of utilizing a faux passport.

Kwon was arrested in March

Kwon fled to Montenguro and allegedly tried to flee the nation with faux paperwork as South Korea and the US tried to detain him over the failures of Terra LUNA and TerraUSD.

The CEO of Terraform Labs was reportedly sentenced together with Han Chang-jun, former CEO of South Korea-based cost app Chai.

Kwon and Jang Jun had been arrested in March whereas attempting to flee to Dubai, and prosecutors charged them with possessing faux passports with Costa Rica and Belgium particulars. The 2 had pleaded not responsible.

Forward of the sentencing, Kwon’s $400,000 bail was reportedly canceled by the Excessive Court docket. The previous cryptocurrency mogul, whose crypto platform collapsed final Could wiping out greater than $40 billion in cryptocurrency worth in a matter of days, is already going through a compulsory six-month extension of detention and is now in Montenegro. faces 4 months in jail.

Kwon just isn’t solely needed in South Korea, however has additionally been indicted on a number of costs, together with fraud, and faces extradition to the US.