South Korean man faces 10 years in prison for stabbing

A South Korean man, identified as Mr. Kang, faces a possible 10-year prison sentence for stabbing Haru Invest CEO Lee Hyung-soo during a court hearing in August 2024.

The attack occurred while Lee was on trial for fraud-related charges, with Haru Invest accused of defrauding over 16,000 investors worldwide.

Kang, 51, used a fruit knife to stab Lee in the neck multiple times, though the injuries were not life-threatening.

The attack was reportedly driven by Kang’s financial loss after depositing 100 Bitcoins (CRYPTO:BTC) (worth about $8.3 million) in Haru Invest, only to find withdrawals blocked due to the company’s financial collapse.

Haru Invest had promised full returns with interest of up to 16% but had been in capital impairment since 2019.

The firm suspended deposits and withdrawals in June 2023 before declaring bankruptcy in November, with the fraud allegedly involving 1.4 trillion Korean won, or approximately $962 million.

Prosecutors are seeking a 10-year sentence due to the severity of the crime.

Kang's lawyer argues that his financial loss triggered an impulsive act, suggesting it should be considered aggravated assault rather than attempted murder.

Lee has expressed a willingness to recover damages through bankruptcy proceedings and has not yet decided whether Kang should face additional legal punishment.

Kang’s sentencing is set for April 4.

Legal experts note that the case highlights the severe emotional and financial toll of fraud on victims, sometimes leading to extreme actions, raising concerns about the need for stricter regulations in the cryptocurrency sector to protect investors.