Crypto mogul Do Kwon has lost his appeal in Montenegro's Constitutional Court, meaning a decision on his extradition to either the U.S. or South Korea will be determined by Montenegro's justice minister. Kwon is wanted in both countries for charges related to the crash of his failed algorithmic stablecoin TerraUSD and token Luna. Kwon was arrested in Montenegro in 2023 while trying to board a private flight to the UAE with fake documents. His company, Terraform Labs, agreed to a $4.47 billion settlement with the U.S. Securities and Exchange Commission for defrauding crypto investors.



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