Kwan was arrested in the country in March after providing falsified documents from Costa Rica while attempting to board a flight to Dubai.

At the time of his arrest, he was wanted in the US for multiple charges of fraud for misleading investors and had been indicted in the US with eight charges including wire fraud, securities fraud, commodities fraud, and conspiracy.

According to Coindesk, Kwon will first serve a four-month prison sentence in Montenegro for document forgery, before extradition.

This follows a month of high-profile cryptocurrency-related cases. This week Binance’s now former CEO has plead guilty to violating anti-money laundering requirements, and the company has agreed to pay $4.3 billion in settlement. Earlier in the month Sam Bankman-Fried was found guilty on seven counts for multi-billion dollar FTX fraud.