Former Terraform CFO extradited to South Korea

A decision on former CEO Do Kwon’s extradition has yet to be made. by Katherine Ross /. February 5, 2024 10:48 am. T. Schneider/Shutterstock modified by Blockworks. Former Terraform Chief Financial Officer Han Chang-joon was extradited to South Korea from Montenegro.. The announcement was made by the Montenegrin government on Monday, according to a translated press release.. “Today, the state of Montenegro acted on the request of South Korea, and according to the decision of the Ministry of Justice, handed over Haan Chang Joon to the competent authorities of his home country,” the Ministry said on its X account.. Han was arrested alongside former Terraform CEO Do Kwon in March of last year. The two were attempting to travel with forged documents, according to officials in Montenegro. Both Kwon and Han were sentenced to four months in prison.. The former executives were held in Montenegro as officials determined their fate. Both South Korea and the US have asked to extradite Kwon. He faces charges in both countries over the 2022 collapse of TerraUSD.. Read more: Terraform faces ‘significant liability’ after SEC trial. The depegging of the stablecoin wiped billions from the crypto markets and caused ripple effects that led to multiple bankruptcies.. Terraform Labs has since filed for bankruptcy as it faces a court battle with the Securities and Exchange Commission. Kwon is also named in the suit.. South Korea, according to the press release, plans to conduct “criminal proceedings for several criminal offenses related to fraud in financial investment services, investments and the capital market, for which a life sentence is threatened prison in South Korea.”. A decision on extradition has yet to be made for Kwon. Late last year, reports suggested that he’d be extradited to the US. However, both the US and South Korea reportedly asked Montenegro for more time before finalizing Kwon’s extradition.. Don’t miss the next big story – join our free daily newsletter.. Tags. South Korea. Terraform Labs. Newsletter. Blockworks Daily. Upcoming Events. Digital Asset Summit 2024. Hilton Metropole | 225 Edgware Rd, London. Mon – Wed, March 18 – 20, 2024. Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.. buy ticketslearn more. Permissionless III. Salt Lake City, UT. WED – FRI, OCTOBER 9 – 11, 2024. Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains . . learn more. recent research. Research. As Ethereum has chosen to scale its execution layer through rollups (Ethereum Layer-2 scaling solutions), data availability has become increasingly important as rollups need to publish their data for visibility and disputing. The importance of data availability is critical: if it is withheld, a rollup may not be able to continue its state (i.e. carry out its state transition function) if the sequencer was to drop out, which would lead to the freezing of users funds.. by Boccaccio. more from news. Select a tab. Elsewhere, Coinbase added a former UK finance minister and Polygon Labs made cuts. by Jack Kubinec /. February 4, 2024. Plus, crypto gets its own Shark Tank, and Dwight Howard’s NFT project seemingly flops. by Jack Kubinec /. February 4, 2024. Plus, a $315 million fund eyes crypto and PayPal Ventures uses PYUSD for an investment. by Jack Kubinec /. February 3, 2024. What if the fight that started for ungovernable money has become something much bigger?. by JJ Thompson /. February 3, 2024. Web3 development shop Hashcode Studio is tasked with building out the gaming giant’s magical spin on chess. by Macauley Peterson /. February 2, 2024. Holding bitcoin in WisdomTree’s consumer app offers better use case for the asset than its ETF, chief operating officer says. by Ben Strack /. February 2, 2024