The fugitive stablecoin founder Cling Kwon will seemingly be extradited to his native South Korea to acknowledge criminal costs, native media reported. The Excessive Courtroom in Montenegro’s capital of Podgorica made the choice on Thursday.

The extradition became once extremely contested, as the Excessive Courtroom had earlier determined to extradite Kwon to the U.S., however the choice became once reversed by the Courtroom of Appeals on Tuesday, following a interrogate by South Korea.

Thereafter the Excessive Courtroom determined between competing requests from the U.S. and South Korea. Kwon faces criminal costs within the U.S. introduced by the Division of Justice, as well to costs of securities fraud from the SEC.

Kwon is the co-founder and outmoded CEO of Terraform Labs, which created the stablecoin TerraUSD and the crypto coin Luna. He and the outmoded chief financial officer of Terraform, Han Chang-joon, had been arrested practically a one year within the past on the Montenegro airport, with solid passports.

TerraUSD and Luna collapsed in 2022, evaporating $forty five billion in market capitalization, and surroundings off a extra-than-one year-prolonged crypto iciness.