The top court in Montenegro decided Friday to scrap the extradition of disgraced crypto mogul Do Kwon to his home country of South Korea to face trial on charges connected to a crash of cryptocurrencies, a local news report said.

The court decided to cancel the decision and sent the case back to a lower court, according to Montenegrin daily Vijesti.

On March 22, the top court decided to defer Kwon’s extradition to his home country after the top prosecutors office made a request to review whether the procedures that led to the decision were legal.

Kwon, co-founder of the cryptocurrency firm Terraform Labs, is wanted both by South Korea and the United States, where he faces investigation and indictment on charges connected to the crash of the firm’s TerraUSD and Luna coins in May 2022. The crash was estimated to have wiped out nearly 50 trillion won (US$37 billion) in market value.

Source: Yonhap News Agency