In Montenegro, Do Kwon, the cryptocurrency executive responsible for the $40 billion (£31 point three billion) collapse of the terraUSD and Luna tokens, was given a four-month prison term.
Forging official documents was found to be Mr. Kwon's fault.
At the Podgorica Airport in the nation's capital, he was detained in March as he attempted to board a flight to Dubai.
Additionally, Mr. Kwon is being prosecuted in the US and South Korea for the failure of the two digital tokens last year.
Han Chang-joon, the former finance director of Mr. Kwon's business Terraform Labs, received a four-month prison term after being found guilty of the same offenses.
In May, during their first court appearance, Mr. Kwon and Mr. Han entered a not guilty plea.
The court announced in a statement that the sentences would take into account the time Mr. Kwon and Mr. Han have already spent in custody following their arrest in March.
Additionally, they have eight days from the time they receive written notice from the court to file an appeal of the judgment.
US regulators accused Mr. Kwon and Terraform Labs in February of "orchestrating a multi-billion dollar crypto asset securities fraud.".
"We allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a host of crypto asset securities, most notably for Luna and TerraUSD," said Gary Gensler, chairman of the US Securities and Exchange Commission (SEC).
For Mr. Kwon and five other people associated with the case, a South Korean court issued arrest warrants last year.
According to prosecutors, Terraform Labs, which is registered in Singapore, violated capital market regulations.
Neither the US nor South Korea and Montenegro have extradition agreements.
In May 2022, the terraUSD stablecoin's demise and that of the Luna token it was tied to shook the cryptocurrency markets.
