Do Kwon Can Be Extradited to South Korea, Montenegrin Court Rules: Reports

• Terra founder Do Kwon can be extradited to South Korea to face criminal charges over the collapse of his crypto enterprise, a Montenegrin court ruled.

• Kwon was arrested last year while attempting to travel with falsified documents

• The U.S. and South Korea both requested his extradition, and Montenegrin authorities make the decision on where he goes.

Do Kwon, a co-founder of Terraform Labs, can be extradited to South Korea to face criminal charges concerning the May 2022 collapse of his multibillion-dollar crypto enterprise, a Montenegrin high court has ruled, according to local news reports from Thursday.

The South Korean national successfully appealed an earlier ruling by the same court, which approved his extradition to the U.S. It’s likely he will also challenge this latest decision.

Following Terra’s collapse, Kwon managed to evade South Korean authorities for some time until he was arrested last year in Montenegro while attempting to travel with faked documents. Kwon was arrested alongside former Terra executive Han Chang-joon, who was extradited to South Korea in February.

Kwon has remained in Montenegro, first serving a four-month sentence for possession of falsified documents and then later until a decision on his extradition is made.

The U.S. and South Korea both requested Kwon’s extradition. In the U.S., Kwon faces a securities fraud trial.