The Ministry of Justice of Montenegro has made the decision to extradite the former product director of Terraform Labs to the Republic of Korea.
Hang Jang Joon has already been surrendered to the South Korean authorities based on an Interpol warrant, as confirmed by the Ministry of Justice. The former high-ranking manager of the company, which collapsed in the latter part of 2022, now faces criminal charges under various sections of the country’s criminal code related to financial fraud.
Han Zhang Zhong and Do Kwon, the former CEO of Terraform Labs, were apprehended at Podgorica airport last spring. Presently, Do Kwon is awaiting extradition either to the United States or South Korea.
Previously, the US Securities and Exchange Commission (SEC) had agreed to defer the commencement of the Terraform Labs trial until the Montenegrin authorities hand over the project’s founder to US authorities.
Eleanor Ashworth is editor-in-chief at BTCNews. A Cambridge-trained journalist with 18 years across the Financial Times, Reuters and the Telegraph, she joined the crypto beat in 2017 after covering the Bank of England and HM Treasury. She holds the SABEW Best in Business award (2022) and was shortlisted for the British Journalism Awards (2023). At BTCNews she sets the editorial line for Bitcoin and macro markets coverage, with a focus on institutional adoption, regulation and central-bank policy. Based in London.
