Crypto CEO Stabbed in Court by Investor Who Lost $8.3M

In a dramatic turn of events, a South Korean man, identified only by his last name Kang, is facing a potential 10-year prison sentence for a violent attack on the CEO of Haru Invest, a cryptocurrency firm that collapsed in 2023. The incident occurred during a court hearing in August 2024, where Kang repeatedly stabbed Lee Hyung-soo, the CEO of Haru Invest, in the neck with a fruit knife. Fortunately, Lee's injuries were not life-threatening, and he was promptly taken to the hospital for treatment.

The prosecution has requested a 10-year prison sentence, citing the severity of the crime. This attack took place while Lee was in court facing multiple fraud-related charges. According to the prosecution, Haru Invest had attracted approximately 16,000 domestic and foreign investors between March 2020 and June 2023 by promising to return the principal and pay interest of up to 16%. However, the company had been in a state of capital impairment since 2019. On June 13, 2023, Haru Invest suddenly suspended deposits and withdrawals, and announced bankruptcy in November of the same year.

Kang’s defense argued that he had no intent to kill, noting that he did not target a fatal area and acted in a moment of extreme emotional distress after losing 100 BTC (worth $8.3 million) due to Haru Invest’s collapse. His lawyers pushed for a reduced charge of aggravated assault rather than attempted murder, citing his severe financial and psychological hardship. Ahead of the hearing, the local media reported that Haru Invest Victims’ Association held a press conference demanding Kang’s release, arguing that fraud victims like him were being treated unfairly while executives accused of embezzling hundreds of millions of dollars walked free on bail.

This incident highlights the volatile and sometimes dangerous nature of the cryptocurrency industry, where high-stakes financial dealings can lead to extreme actions. The attack on Lee Hyung-soo underscores the need for robust legal and regulatory frameworks to protect both industry leaders and investors from such violent repercussions. The prosecution's request for a 10-year prison sentence reflects the seriousness with which the legal system views such acts of violence, particularly in the context of financial crimes. Kang is due back in court on April 4 for sentencing.