Montenegro appeals court overturns a decision to extradite Terraform Labs founder to the US

An appeals court in Montenegro has overturned a ruling that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea. The 32-year-old Kwon was arrested nearly a year ago in Montenegro on an international arrest warrant in connection with a $40 billion crash of Terraform Labs’ cryptocurrency. Both South Korea and the U.S. have requested Kwon’s extradition from Montenegro. The High Court in Montenegro decided last month to hand over Kwon to the U.S. But the Court of Appeals annulled the decision and on Tuesday ordered the lower court to repeat the process.