cryptonews: A court in Montenegro has ordered DoKwon to spend the next 30 days in detention. 🧐
But local media reports suggest the Terra co-founder is planning to appeal this decision.
Several travel documents have been seized, some of which bore different names to their actual identities.Kwon was arrested at the airport alongside Han Chang Joon, who had served as Terraform's chief financial officer. Hours after he was captured, federal prosecutors in New York charged him with eight counts of fraud and market manipulation.
The TerraUSD stablecoin, or UST, had quickly become the third-largest stablecoin when it depegged in what amounted to a week-long, bank run-style collapse in May 2022. An algorithmic stablecoin, it used an arbitrage mechanism with a free-floating partner token, LUNA, to maintain its dollar peg.
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