Branko Andjelic

Do Kwon has pleaded not guilty to charges he faked passports and tried to leave Montenegro. He’s facing even more serious charges in both the U.S. and South Korea.Photo: Risto Bozovic (AP)It turns out that Do Kwon, the man whose Terra stablecoin led to a $40 billion loss in the crypto industry, won’t get out of jail for a few hundred thousand dollars. On Wednesday, a Montenegrin court nixed an earlier deal to give Kwon bail, meaning the man will have to remain in jail while awaiting trial over allegations he tried to skip…

Do Kwon was arrested two months ago for allegedly trying to fly to Dubai with a forged passport. He was allowed a limited release on bail set at $436,000.Photo: Risto Bozovic (AP)Former Terraform Labs CEO Do Kwon, alongside his compatriot and former chief financial officer Han Chong-joon have been on the run from international police for months. They were arrested in Montenegro for allegedly holding two fake passports. None of that was enough to stop the Montenegrin court from offering the pair release on bail for around…

Do Kwon, notorious crypto entrepreneur and recent international fugitive, spent months evading arrest—despite claims that he was “not on the run.” Yet now that he’s been detained, his attorneys are hoping for the flitting fugitive’s release on bail. Spoilers of the Week | June 3rdKwon, the founder and CEO of the now-collapsed crypto platform Terraform Labs, was finally apprehended in Montenegro in March. According to the European country’s officials, he was caught attempting to board a flight to Dubai with fellow…