Korean police reportedly arrest first person involved in Terra collapse
Terraform Labs' business team leader was part of Do Kwon's inner circle.
New
After months of investigation without any arrests and the main offender on the run teasing law enforcement on Twitter, South Korean police have reportedly captured the first person involved in the collapse of the blockchain ecosystem Earth.
News of the arrest of Terraform Labs business team leader Yoo Mo appeared in Korean media on October 6, later District Attorney Choi Sung-kook confirmed the information to Forkast.
The Seoul Southern District Attorney's Office issued an arrest warrant for Yoo on October 5, charging him with violating the Capital Markets Law and fraud by manipulating the market price of the stablecoin TerraUSD (UST), now known as TerraUSD Classic (USTC). Authorities did not release details of the arrest such as the time.
The warrant for Yoo's arrest was issued in September - the executive is believed to be part of Terra co-founder Do Kwon's inner circle. On September 26, Interpol issued a Red Notice, "calling on law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action," on Do Kwon.
Related:
Terraform Labs' business team leader was part of Do Kwon's inner circle.
New
After months of investigation without any arrests and the main offender on the run teasing law enforcement on Twitter, South Korean police have reportedly captured the first person involved in the collapse of the blockchain ecosystem Earth.
News of the arrest of Terraform Labs business team leader Yoo Mo appeared in Korean media on October 6, later District Attorney Choi Sung-kook confirmed the information to Forkast.
The Seoul Southern District Attorney's Office issued an arrest warrant for Yoo on October 5, charging him with violating the Capital Markets Law and fraud by manipulating the market price of the stablecoin TerraUSD (UST), now known as TerraUSD Classic (USTC). Authorities did not release details of the arrest such as the time.
The warrant for Yoo's arrest was issued in September - the executive is believed to be part of Terra co-founder Do Kwon's inner circle. On September 26, Interpol issued a Red Notice, "calling on law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action," on Do Kwon.
Related:
What's Your Reaction?
