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Do Kwon’s bail terms officially accepted by Montenegro court

Montenegro has granted approval to the bail terms proposed by lawyers for Terra founder Do Kwon, who was charged with the criminal offense of document forgery under Montenegrin law.

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Montenegro has granted approval to the bail terms proposed by lawyers for Terra founder Do Kwon, who was charged with the criminal offense of document forgery under Montenegrin law.

According to the official document released by local authorities on May 12, the court has accepted the proposed bail offer for Kwon and Han Chang-Joon Terraform Labs’ chief financial officer of 400,000 euros ($436,000) each. This is in addition to being put under house arrest instead of being taken into custody.

According to the documents, if the house arrest is compromised, the bail will be entered into a special section of the court’s working budget. Additionally, the notice said it would be necessary to verify the authenticity of travel documents and identity cards, which were allegedly issued by the competent authorities of Belgium.

This update comes only one day after Kwon’s lawyers filed their request for such conditions to the Montenegrin authorities. If the party is “unsatisfied” with the court decision, they have three days to repeal it. 

Kwon and Chang-Joon were arrested by Montenegrin authorities in March 2023 at Podgorica airport for allegedly using false documents. The two had their passports confiscated in South Korea, their country of origin, in October 2022.

Interpol has wanted the Terraform Labs co-founder for his part in the Terra ecosystem’s $40 billion collapse in May 2022 that rocked the crypto industry. The current criminal trial in Montenegro is anticipated to start on June 16.

Reports from May 10 revealed that South Korean authorities had frozen $176 million of Kwon’s personal assets as part of the ongoing criminal proceedings.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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