Wikileaks founder Julian Assange lost an appeal that tried to block his extradition to Sweden on potential charges of rape and molestation. The panel said that the European Arrest Warrant for Assange was valid and the offenses alleged against him are criminal in both the UK and Sweden.

This latest ruling marks another blow for Wikileaks, which said last week that it would suspend publishing confidential documents because most of its revenue has been cut off. Companies including Bank of America, Visa, PayPal and others stopped processing donations for WikiLeaks shortly after the site began releasing portions of 250,000 secret U.S. diplomatic cables in November 2010. 

Assange has not been charged by the U.S. in relation to his WikiLeaks work, but he remains under investigation. He can still appeal Wednesday's ruling to the U.K. Supreme Court.

With reporting by Jeremy Kirk in London, Nick Barber, IDG News Service.