Terraform Labs founder Do Kwon, who fled the Terra-LUNA crash in May 2022 until March 2023, was caught in Montenegro in March while boarding a plane to escape.
Montenegrin prosecutors also accused Do Kwon of forging an official document.
US and South Korean authorities demanded the extradition of Do Kwon, who has been detained in Montenegro since March.
Do Kwon, who went to his first hearing in Montenegro today, denied the charges against him and presented his defense.
According to the news of Coindesk, in the notes released about the trial, it was written that Do Kwon's lawyers offered to be released on bail.
"Defendant Do Kwon's lawyer recommended that bail and custody measures be implemented at the place of detention, prohibited from leaving the flat in which he resides, and that they periodically report to a specific state authority."
Lawyers offered bail of 400,000 euros ($437,000) each for Do Kwon and Terra executive Han Chang-joon, who was detained with Kwon.
The court announced that it will decide on the bail offer at the next hearing and that the next hearing date has been set for 16 June.