Crypto Mogul Do Kwon’s Bail Is Revoked in Montenegro (1)

A Montenegrin court revoked a bailapplication from former crypto mogul and Terraform Labs co-founder Do Kwon, keeping him in jail.

The High Court in Montenegro’s capital Podgorica overturned a lower court’s decision to release Kwon and his former chief financial officer Han Chong-joon on appeal from the prosecutors, spokeswoman for the court Marija Rakovic said by phone on Wednesday.

Do Kwon is taken to court in Podgorica, Montenegro, on March 24.

Photographer: Risto Bozovic/AP

How Captured Crypto Titan Do Kwon Became a Fugitive: QuickTake

Earlier this month, the two South Korean nationals won approval from the Basic Court in Podgorica to be released on €400,000 ($430,500) bail each. The prosecution promptly appealed ...