Do Kwon’s Former Terraform Labs CFO, Han Chang-joon, Extradited to South Korea

Han Chang-joon, the previous monetary officer of Terraform Labs, has been extradited to South Korea from Montenegro, the place he had been held since his arrest in March 2023.

Han Chang-joon, the previous monetary officer of Terraform Labs, has been extradited to South Korea from Montenegro, the place he had been held since his arrest in March 2023. The extradition was confirmed by the Montenegrin police, who acknowledged that Han had been “handed over” to South Korean authorities to face felony proceedings associated to fraud in monetary funding companies, investments, and the capital market.

Han’s extradition comes after he served a four-month jail sentence in Montenegro for trying to journey with solid paperwork. He and Terraform Labs co-founder Do Kwon have been arrested on the Podgorica airport in March whereas making an attempt to flee on a non-public jet, ending a six-month worldwide manhunt.

The choice to extradite Han was made by Montenegro’s Ministry of Justice. His lawyer, Goran Rodic, acknowledged that they’re nonetheless ready for a choice on Do Kwon’s extradition, which is being appealed. Each US and South Korean prosecutors have demanded Kwon’s extradition in relation to the $60 billion collapse of the Terra blockchain in 2022. The collapse of Terra triggered a domino impact of trade implosions, together with the liquidations of crypto fund Three Arrows Capital and change FTX.

In September 2022, a South Korean court docket issued an arrest warrant for Kwon and 5 others, accusing them of violating Korean capital markets legal guidelines. Interpol issued a purple discover for Kwon’s arrest days later.

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