DeFi News Official TheBitTimes.com

Do Kwon Receives Bail, But Remains in Extradition Custody Montenegro High Court on June 15 rejected Montenegrin prosecutors’ appeal and upheld the verdict by Montenegro Basic Court Judge Ivana Becic to accept the bail of Terra co-founder Do Kwon and former CTO Han Chang-joon, confirmed court spokesperson Marija Rakovic. advertisement Earlier this month, Montenegro Basic Court approved Do Kwon and Han Chang-joon’s bail of 400,000 Euros ($436,000) each for the second time, adding surveillance and other court measures to the bail conditions. The Basic Court sent the prosecutors’ appeal and the passport forgery case files to the Montenegro High Court for judgment. Montenegro High Court granted bail so that they can defend themselves against charges of documents forgery. However, Do Kwon and Han Chang-joon will remain behind bars as the High Court judge ordered them to be extradited to South Korea. The High Court investigating judge at the request ...

Terra users are losing another round of funds due to a breach on the new DeFi platform Terraport Finance, which launched on March 31. The algorithmic stablecoin TerraUSD (UST) collapsed almost one year ago, but some Terra-related projects are still live and trying to overcome some issues. Terraport Finance, a decentralized finance (DeFi) exchange project based on the Terra Classic blockchain, suffered a breach on its liquidity wallet on April 10. Announcing the news on Twitter, Terraport said the hacker had drained all liquidity pools from the platform, causing losses of about $2 million worth of digital assets. “We are currently working with community members and major exchanges to secure as many of these funds as possible and blacklist wallets. All funds have been tracked,” Terraport stated. According to social media reports, the Terraport hacker has allegedly transferred the stolen funds to exchanges like Binance and MEXC Global. The investigators have urged the exchange’s security...