‘Terra·Luna Incident’ Kwon Do-hyung Associate Han Chang-jun, Detained Immediately After Arrival... Prosecution Investigation Accelerates (Summary)

Han Chang-jun (37), former Chief Financial Officer of Terraform Labs Korea and one of the key suspects related to the so-called ‘Terra-Luna incident’ that wiped out approximately 52 trillion KRW in market capitalization, was repatriated through Incheon International Airport on the afternoon of the 6th.

Han boarded Korean Air flight KE956 from Istanbul to Korea at around 4:20 a.m. (Korean time) that day, and after about 9 hours and 40 minutes of flight, arrived at Incheon International Airport around 2 p.m. Wearing a black mask and hat to cover his face, Han was taken to the Seoul Southern District Prosecutors' Office in handcuffs. Han is considered a close aide to Kwon Do-hyung, CEO of Terraform Labs, having served as the CEO of Chai Corporation, which is closely related to Terraform Labs.

Kwon Do-hyung, the key figure in the cryptocurrency 'Terra·Luna' crash incident and CEO of Terraform Labs, is being repatriated through Incheon International Airport Terminal 2 on the afternoon of the 6th, accompanied by Han Chang-jun, Chief Financial Officer of Terraform Labs Korea. [Image source=Yonhap News]

The two fled overseas from Korea in April 2022, just before the Terra-Luna crash, and were arrested by local police in Montenegro last March while attempting to board a flight to the United Arab Emirates (UAE) using forged passports.

The Ministry of Justice requested extradition immediately after their arrest and, in cooperation with Montenegrin authorities, received Han’s custody at a transit point the previous day local time.

Han’s repatriation is expected to give momentum to the prosecution’s investigation into the Terra-Luna incident. Terra-Luna, which once ranked around the top 10 in global cryptocurrency market capitalization, crashed by 99.99% within four days in May 2022. The estimated damage to investors worldwide is about 52 trillion KRW.

Meanwhile, Kwon has appealed the decision of the Podgorica High Court of Montenegro, which approved the extradition. If the court upholds the repatriation decision, Milovi?, Montenegro’s Minister of Justice, will decide whether to extradite Kwon to Korea or the United States.

The Ministry of Justice stated, "We will do our best to ensure that Kwon Do-hyung, a key suspect, is also repatriated to Korea."

This content was produced with the assistance of AI translation services.