South Korean authorities arrest former Terra CFO

South Korean authorities have arrested former Terra CFO Han Chang-joon, accusing him of illegally profiting approximately $40 million. The charges allege that Han Chang-joon misled investors by falsely marketing Terra stablecoins, knowing they could not be used as actual payment methods. In addition, he is also accused of selling LUNA without proper securities registration and leaking financial information of approximately 100 million Chai Pay customers to the Terra blockchain.

Terraform Labs

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