A Montenegro high court has annulled a decision by a lower court to release Terraform Labs co-founder Do Kwon on bail.
Kwon is facing charges of attempting to travel with falsified documents.
The Basic Court of the country’s capital Podgorica had accepted a previous proposal made by Kwon’s lawyers in early May to release the disgraced crypto founder and fellow defendant Terra executive Han Chang-joon on supervised bail with a payment of 400,000 euros ($435,000) each as their trial continues.
The prosecution for the case made a speedy appeal against the decision.
The U.S. and South Korea have requested Kwon’s extradition from Montenegrin authorities to face criminal charges over the collapse of Terraform Labs in May last year.
