Golden Finance reported that the Montenegrin Supreme Court decided to refer the extradition case of Terraform Labs co-founder Do Kwon to the Montenegrin Minister of Justice to decide whether to extradite him to the United States or South Korea. The court believes that the United States and South Korea have met the conditions for extradition. Kwon faces charges for the collapse of the Terra ecosystem in which he participated in 2022, which triggered a series of crypto companies' bankruptcies. Kwon's whereabouts remained unknown until 2023, until he was arrested in Montenegro. Montenegrin authorities arrested Kwon for using forged travel documents and sentenced him to four months in prison. Since his release, Kwon's legal affairs are still being processed. It is unclear whether Montenegro's Minister of Justice will have the final say on Kwon's extradition. In April this year, the ruling of then-Minister of Justice Andrej Milović was appealed by Kwon's legal team, after which he has been replaced by Bojan Božović. In the United States, Kwon and Terraform Labs were found responsible for defrauding investors and were required to pay approximately $4.5 billion in fines and restitution. Terraform filed for bankruptcy protection in January and received approval for a liquidation plan in September. Meanwhile, South Korean authorities have filed charges against several individuals associated with Terraform, further raising concerns about Kwon’s case.