Chong-joon

Terraform Labs co-founder Do Kwon will spend some months in jail, but he should be more concerned about whether South Korea or the U.S. will nab him next.Image: July Ko (Shutterstock)Failed crypto founder Do Kwon is now facing a stint behind bars, not due to his many alleged crypto crimes, but for his very shady passports. On Monday, Montenegro’s basic court announced it had sentenced Kwon and his compatriot, former Terra chief financial officer Han Chong-joon, to four months in jail. The pair had been arrested earlier…

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…