What happened to Terra Luna. Journey from crypto kings to fallen stars

In May 2022, the crypto community was shattered by the crash of the Terra ecosystem. One year after, we are reconstructing the events, from luna's depeg to Terraform CEO Do Kwon becoming a criminal.

Timeline of Terra-luna-v2

The Montenegro Basic Court has approved Terra co-founder Do Kwon and former chief financial officer Han Chang-joon's bail request for the second time on Friday, according to the lawyer representing Do Kwon and Han Chang-joon. Montenegro prosecutors now have three days to appeal against the court's ruling.

Do Kwon, the former head of Terraform Labs and the creator of the failed TerraUSD stablecoin, is back in custody in Montenegro after a higher court revoked his bail of 800,000 euros.

In a surprising turn of events, Terraform Labs founder Do Kwon is back in custody after a Montenegrin high court annulled a lower court's decision to allow Kwon to be released on bail.

The high court in Montenegro's capital, Podgorica, has revoked the release of the cryptocurrency and the founder of Terraform Labs, along with his former chief financial officer Han Chong-joon, following an appeal by the prosecutors in Montenegro.

A High Court in Montenegro repealed bail terms for TerraUSD creator Do Kwon and his colleague Han Chang-Joon.Do Kwon and his former CFO Han were each granted €400,000 ($437,000) bail in a travel paper forgery case.Local prosecutors appealed the decision, arguing that Kwon and his CFO were flight risks.The decision will now return to the Basic Court which initially granted bail a day after Kwon's lawyers filed the request.Authorities in Montenegro, South Korea, and the U.S. continue to debate extradition rights. Do Kwon and his former CFO Han Chang-Joon will not be granted bail after a Montenegrin High Court overruled a previous approval for their release, per Bloomberg.

A Montenegrin high court judge has reportedly invalidated the bail application of Do Kwon, the co-founder of Terraform Labs. Kwon was detained for providing false identification while boarding a flight to Dubai alongside a companion on March 23, 2023.

A court in Montenegro overturned a prior ruling that granted bail to ex-crypto titan and co-founder of Terraform Labs, Do Kwon. The high court's decision, which took place in Montenegro's capital of Podgorica, meant Kwon would continue to be held in custody, Bloomberg quoted court spokeswoman Marija Rakovic as saying.

A Montenegrin high court in Podgorica has revoked Terraform Labs co-founder Do Kwon's bail. According to a May 24 Bloomberg report, a spokeswoman for the court Marija Rakovic said the court decision also affects the company's former CFO, Han Chong-Joon.

A higher court in Montenegro on Wednesday scrapped bail of 800,000 euros ($880,640) previously granted to Do Kwon, a cryptocurrency entrepreneur charged in the U.S. with a multibillion-dollar fraud, and his ally pending a trial.

Crypto News: According to recent reports, the bail approval of controversial crypto entrepreneur Do Kwon and his subordinate Han Chang-Joon has been scrapped by the Montenegro High Court. The decision comes after the local prosecution team contested the bail, alleging that the defendants had no intentions of staying in Montenegro as they were initially planning