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.
The ruling similarly affected Han Chong-joon, previously Kwon's chief financial officer.
Earlier in the month, both were granted permission by the Basic Court in Podgorica to be freed on bail set at 400,000 euros ($430,500).
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