Terra (LUNA) Former CFO Extradited from Montenegro to South Korea

Han Chang-joon, the former Chief Financial Officer (CFO) of the now-defunct Terraform Labs, has been extradited from Montenegro to South Korea.

This development follows Montenegro’s Ministry of Justice’s agreement to a South Korean request, emphasizing international collaboration in crypto industry regulation.

Terraform Labs CFO Extradited to South Korea

Han, who had close ties with Terraform Labs co-founder Do Kwon, encountered legal issues. He was arrested at a Montenegrin airport in March, charged with using forged documents during travel.

The extradition marks a pivotal moment for South Korean authorities in the ongoing investigation into the collapse of Terraform Labs, which had a profound impact on investors worldwide. Teraform Labs CFO’s return to South Korea follows a four-month prison term he served in Montenegro. Indeed, it demonstrates the seriousness with which global jurisdictions are addressing fraud within the crypto sector.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

Montenegro’s Ministry of Justice confirmed the extradition through an official statement on X. Moreover, it emphasized the country’s role in upholding justice across borders.

“The state of Montenegro has today acted upon the request of South Korea, and by the decision of the Ministry of Justice, handed over Han Chang-joon to the competent authorities of his home country,” Montenegro’s Ministry of Justice said.

Read more: What Is a Rug Pull? A Guide to the Web3 Scam

The extradition of Terraform Labs’ CFO underscores the reach of South Korean legal efforts and also sets a precedent for international collaboration in the pursuit of accountability within the cryptocurrency market.