Do Kwon’s appeal in his fake passport case was denied by the Montenegro High Court on November 16, 2023. This means that his four-month prison sentence will stand, and he will remain in custody pending extradition to either South Korea or the United States.

Kwon was arrested in Montenegro in March 2023 after he fled South Korea following the collapse of his cryptocurrency project Terraform Labs. He was charged with using a fake passport to enter Montenegro. In June 2023, a lower court found him guilty and sentenced him to four months in prison. Kwon appealed the verdict, but the High Court upheld it.

Kwon is now facing extradition to either South Korea or the United States. Both countries have issued arrest warrants for him, and he is expected to be extradited to one of them in the near future.