Terraform creator Do Kwon will be extradited to the U.S., announced Montenegrin Justice Minister Bojan Božović on Friday.

The U.S. and South Korean governments have both requested Kwon's extradition to face criminal charges linked to the collapse of the algorithmic stablecoin Terra/Luna system in 2022. This incident triggered a series of major failures in the crypto market, including the FTX collapse.

Kwon, who was arrested in Montenegro in March 2023 and sentenced to several months in prison for passport fraud, has been challenging his extradition to the U.S. for over a year. Several courts have ruled in favor of extraditing him to either the U.S. or South Korea.

In his statement on Friday, Božović remarked that his decision was made in light of the country's Supreme Court ruling, which confirmed that the conditions for extradition approval had been satisfied.

"Considering the Supreme Court verdict, the Ministry of Justice reviewed all facts and circumstances and assessed criteria like the severity of the crimes, the location of the offense, the request order, the citizenship of the involved person, the possibility of further extradition to another nation, and other relevant factors," the statement noted.

The conditions for the U.S. extradition request were met, according to the statement.

This announcement adds to the ongoing uncertainty surrounding Kwon's legal status; the Appellate Court of Montenegro had previously decided in August that he should be extradited to South Korea.

Additionally, the legal consequences of the Terra incident are still unfolding in the U.S. Recently, the Securities and Exchange Commission settled charges with Tai Mo Shan, a subsidiary of Jump Crypto, for selling LUNA as a security, resulting in a $123 million settlement.