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TL;DR The testimony of a former Terraform Labs developer, Lee, reveals that Terra's co-founders promoted TerraUSD as a payment option, despite being aware of local regulatory prohibitions. The extradition of Han Chang-joon, former CFO of Terraform Labs, triggers investigations related to allegations of fraud and misappropriation of funds in the Terra project.
Do Kwon's name surfaces in a witness testimony implicating him of being aware that the Terra project was “legally impossible.”
In recent testimony, a former Terraform Labs developer has cast a shadow over the viability of the Terra project, once hailed as a groundbreaking blockchain payment system. The developer, identified only as Mr.
A former team leader of Terra reportedly testified against Do Kwon, saying he knew that the project was legally problematic. The 14th Criminal Division of the Seoul Southern District Court engaged the first witness on Feb.
Lee, a former Terraform Labs developer, testified that Shin Hyun-sung, former CEO of Chai Corporation, and Do Kwon, former CEO of Terraform Labs, acknowledged that the Terra project wouldn't function as publicly advertised.
Han Chang-joon, the former financial officer of Terraform Labs, has been extradited to South Korea from Montenegro, where he had been held since his arrest in March 2023.
The former developer of Terraform Labs testified that Terra executives knowingly deceived investors, according to local media.
Over the weekend, the LUNC price saw some of the most bullish price action that sent its price soaring over 20%. This rally eventually brought the price above $0.0001 after struggling around $0.00009 for the last two weeks.
LUNC's surge past $0.000112 broke the bearish market structure.
Montenegro recently extradited the former Terraform Labs financial officer Han Chang-joon to South Korea where he faces fraud-related charges. According to the Montenegro police, the decision to extradite Han was made by the country's Justice Ministry.
Han Chang-joon, ex-CFO at the now-defunct Singapore-based crypto company Terraform Labs who worked alongside CEO Do Kwon, has been extradited to South Korea by Montenegrin authorities.
In a major development for the ongoing investigation into the spectacular crash of Terraform Labs and its algorithmic stablecoin TerraUSD, Han Chang-joon, the company's former chief financial officer, has been extradited to South Korea.
Terraform Labs' former CFO Han Chang-joon is extradited to South Korea, facing a lengthy prison sentence in the country.
Meanwhile, Terraform co-founder and CEO Do Kwon is coming to the United States for trial on charges advanced by the SEC.
Former Terraform Labs CFO could face a lifetime behind bars for serious financial crimes, following extradition from Montenegro.
Han Chang-joon, the former Chief Financial Officer (CFO) of Terraform Labs, has been extradited to South Korea by Montenegrin authorities.
The Terra Luna Classic community has approved developer Genuine Labs' spending proposal to pay for the work completed by the developer team in the last few weeks. The proposal received majority support from Terra Classic validators.
The former CFO of Terraform Labs, Han Chang-joon, has been extradited from Montenegro to South Korea, following his arrest alongside Terra co-founder Do Kwon in March 2023 for attempting to travel with falsified documents.
Montenegro has reportedly deported the former financial officer of Terraform Labs, Han Chang-Joon, back to South Korea to face criminal proceedings. According to reports, law enforcement agencies referred to him as J.C.H.
Former Terraform Labs CFO Han Chang-joon faces charges in South Korea including fraud that could carry a life sentence.
According to an official notice, Montenegro has extradited Han Chang-joon, the former CFO of Terraform Labs, to South Korea following his arrest last year alongside Terra co-founder Do Kwon. Charged with using falsified travel documents, both individuals were sentenced to four months in prison by a Montenegro court.
Story Highlights The live price of LUNC is . Terra Classic price is expected to reach as high as $0.000488 by the end of 2024. LUNC price could surge to a maximum of $0.00212 by the end of 2030. One of the biggest disasters the industry could ever face.
Montenegrin authorities have extradited Han Chang-joon, the chief financial officer of the now-defunct cryptocurrency firm Terraform Labs, to South Korea.
Han Chang-joon was handed over to South Korean authorities following a decision by the Balkan country's Ministry of Justice.
