Montenegro’s justice minister will decide on Do Koo’s extradition after the court’s decision.

It is reported that the High Court of Montenegro in Podgorica has issued a decision asking whether Terraform Labs founder Do Kwon should be extradited to the United States or South Korea to the country's justice minister.

According to an April 10 report from Montenegrin news outlet Vijesti, Justice Minister Andrej Milović will have the final decision on Kwon's extradition and to which country he should be extradited. The decision came after Montenegro's Supreme Court upheld a request for legal protection against a lower court decision allowing his extradition to South Korea.

Montenegrin authorities arrested Kuo in March 2023 after allegedly using forged travel documents to leave the country. He is reportedly free to travel in Montenegro while courts decide whether to grant extradition requests from the United States or South Korea on criminal charges against him.

When the platform collapsed in May 2022, Kwon and others were found guilty of defrauding Terraform and lying to investors. On April 5, a jury found the company and Kwon guilty of fraud in a civil case filed by the U.S. Securities and Exchange Commission. . The founder of Terraform Labs may face criminal charges in the US and South Korea.

Related: Terraform Labs ‘Built On Lies' – SEC On Trial

Kwon's case in Montenegro has moved from court to court. It is unclear if the legal team intends to appeal the April 10 ruling.

Former chief financial officer of Terraform Labs, Han Chang-jun – who was arrested in Montenegro along with Kwon – was extradited to South Korea in February. South Korean authorities have indicted several individuals associated with Terraform, including co-founder Hyun-Seong Shin.

Magazine: Memecoins Blame Millionaires, Terraform and Do Quo on Fraud, and More: Hodler's Digest, March 31 – April 6