Terraform Labs co-founder Do Kwon, who has been in Montenegro since his arrest in March 2023, will reportedly be extradited to the United States to face fraud charges.

According to a Feb. 21 report from Montenegrin news outlet Pobjeda, the High Court of Podgorica rejected a request to extradite Kwon to South Korea before the United States. The decision followed an appeal by Kwon’s legal team, arguing that Montenegro’s Justice Minister had the final authority to decide on the Terraform co-founder’s extradition — a claim the high court rejected.

It’s unclear when Kwon will travel to the United States. After the collapse of Terra in May 2022, his whereabouts were largely unknown until March 2023, when Montenegrin authorities arrested Kwon for using falsified travel documents. He was sentenced to four months in prison and has been involved in extradition proceedings while in custody.

This is a developing story, and further information will be added as it becomes available.