According to BlockBeats, on August 1, Montenegro's appellate court upheld a decision to extradite Terraform Labs Pte. co-founder Do Kwon to South Korea, rejecting a proposal to send him to the United States instead.

This ruling is the latest in a series of decisions by Montenegro, which has been dealing with dual extradition requests from both the United States and South Korea for the former cryptocurrency mogul. The Podgorica court announced on its website that no appeals were filed against the decision.

The ruling also confirmed a previous expedited extradition process issued by another Montenegrin court. Following the announcement, Do Kwon's lawyer, Goran Rodic, told Bloomberg that Montenegro would arrange the extradition with the assistance of Interpol and expressed hope that the process would be completed "as soon as possible."