Concerning the fate of cryptocurrency entrepreneur Do Kwon, a Montenegrin court has ruled in favor of his extradition to his native South Korea. The decision marks the latest twist in the legal saga that unfolded following Kwon's arrest in the Balkan nation last year.

Appeals Court Reverses Decision: Extradition to US Overturned

The High Court's ruling came swiftly after an appeals court overturned its previous decision to extradite Kwon to the United States, where he faces charges related to a $40 billion crash of Terraform Labs' cryptocurrency. Kwon, aged 32, was apprehended on an international arrest warrant, following allegations of fraud and financial misconduct that devastated retail investors globally.

The legal battle over Kwon's extradition has been tumultuous, with both South Korea and the United States vying for custody. Last month, the High Court initially decided to hand over Kwon to the US, but the Court of Appeals nullified the decision, citing procedural discrepancies over the timing of extradition requests.

According to spokeswoman Marija Rakovi, the latest ruling by the High Court is subject to further appeal, prolonging the uncertainty surrounding Kwon's eventual destination. Currently serving a four-month prison sentence in Montenegro for using a false passport, Kwon, often referred to as "the cryptocurrency king," faces multiple charges of fraud and financial misconduct in both the US and South Korea.