South Korean authorities on Thursday accused Han, former chief financial officer of Terraform Labs, of obtaining 53.6 billion Korean won ($40 million) in unjust profits for allegedly fraudulently marketing the Terra stablecoin, according to local reports. Jangjun was taken into custody.
Han is Extradited from Montenegro Monday after he and Terra co-founder Kwon Do-hyun, also known as Do Kwon, were arrested last March for attempting to travel with fake documents.
South Korean news agency Newsis reported that Seoul prosecutors are currently investigating illegal sales of cryptocurrencies while intentionally promoting the false premise that Terra could be used as a payment option in the real world. Han is accused of being involved.
At Monday's trial of former Terra members in Seoul, former Terra developers testified that senior members of Terraform Labs were aware that the Terra stablecoin could not be used for payments due to local regulations. Terra co-founder Shin Hyun-sung, who was present at the trial, argued that regulators have not established a clear position on the use of cryptocurrencies as a payment method.
Han's other charges include selling the Luna cryptocurrency without proper securities registration, as local authorities consider the tokens to be investment contracts, and stealing Luna's nearly 100 million financial records. This includes leaking information. chaipay According to the report, customers will access the Terra blockchain. Chai is a payments company founded by Terra co-founder Shin Hyun-seung (Daniel Shin) and had close ties to Terraform Labs.
Do Kwon waits for the extradition decision.
meanwhile, Kwon He remains detained in Montenegro, where local authorities are still considering whether to extradite him to the United States or South Korea. His detention period is scheduled to end on February 15th.
The Block contacted the Seoul Southern District Public Prosecutors Office for further comment, but did not immediately receive a response.
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