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A South Korean man could face 10 years in prison for stabbing the CEO of Haru Invest, a local cryptocurrency custody firm, during a fraud trial in August 2024. Prosecutors in Seoul have called for the lengthy sentence, citing the severity of the attack, during the final hearing on Wednesday.
South Korea’s Haru Invest CEO Attack
The 51-year-old assailant, identified as Kang, attacked Haru Invest’s CEO, Lee Hyung-soo, by stabbing him multiple times in the neck with a fruit knife. Lee was immediately hospitalized but fortunately did not suffer life-threatening injuries.
The assault took place while Lee was attending a court session related to fraud charges. He is accused of being involved in a scheme that defrauded around 16,000 investors, both in South Korea and abroad, of 1.4 trillion Korean won (approximately $962 million). The fraudulent activities allegedly took place between March 2020 and June 2023, where Haru Invest promised investors returns as high as 16% on their principal despite facing financial difficulties since 2019. In June 2023, Haru Invest suddenly froze deposits and withdrawals, ultimately declaring bankruptcy in November 2024.
Kang, who reportedly lost 100 BTC (worth $8.3 million) in the collapse of Haru Invest, explained during the hearing that the emotional strain from his financial losses led to his violent outburst. His lawyer argued that the attack should be considered aggravated assault rather than attempted murder.
Meanwhile, Lee has stated that he is still contemplating whether to seek legal punishment against Kang. He also mentioned that he is focused on recovering losses through the bankruptcy proceedings.
The court is set to announce Kang’s sentencing on April 4.
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