Do Kwon, former CEO of Terraform Labs, is set to be extradited from Montenegro to South Korea.

Kwon faces charges over the collapse of cryptocurrency Terra Luna and its stablecoin UST.

Both the U.S. and South Korea had requested his extradition, with South Korea's request now granted.

He has previously served time in Montenegro for possessing a fake passport.

The extradition process involves the justice ministries and police authorities of Montenegro and South Korea.

The situation underscores the increasing legal scrutiny on cryptocurrency executives worldwide.