Han Chang-joon, the former CFO of Terraform Labs, has been extradited from Montenegro to South Korea. This development follows his arrest alongside Terra co-founder Do Kwon for using falsified travel documents.
Han’s journey from arrest to extradition began in March 2023 when Montenegrin authorities detained him and Kwon. After serving a four-month prison sentence, the focus shifted to their extradition.
South Korea and the U.S. sought Kwon’s transfer to face charges related to Terraform Labs’ collapse in May 2022. South Korea’s interest in Han stems from alleged fraud-related offenses in the financial investment sector, with severe penalties awaiting.
While Han’s chapter moves forward in South Korea, Kwon’s situation remains uncertain. His extradition hangs in the balance, with Montenegro’s appeals court yet to decide. Kwon had previously contested a local court’s decision on his extradition in January.
This extradition marks a critical point in the Terraform Labs case, highlighting the international legal complexities surrounding the crypto industry’s high-profile collapses.