The first representative of the development team was arrested in the case of the Luna cryptocurrency collapse

South Korean prosecutors have arrested one of the leaders of Do Kwon's business team, Yoo Moe, who is believed to be involved in manipulating the price of TerraUSD (UST).

The arrest of Yoo Mo was the first in the case of the Luna cryptocurrency collapse, but it is likely not the last. The arrest warrant was issued back in September, but the judge has only just signed it. As it has become known, Yu Mo is accused of violating the Capital Markets Act and fraud, more details are currently unknown.

As for the main «hero» of the Terra ecosystem collapse, Do Kwon, the South Korean Ministry of Foreign Affairs requires him to return his passport within the next 14 days. If Kwon fails to do so, his identity card will be invalidated within the country. Earlier, the South Korean prosecutor’s office filed a request with the Ministry of Foreign Affairs to revoke the passport of Terraform Labs CEO.

Yesterday, it also became known that law enforcement officers managed to freeze another 56 billion won (approximately $ 39.4 million) associated with Terraform Labs CEO Do Kwon. Earlier in September, it was reported that the authorities froze BTC worth more than 65 million. «I don’t understand the motivation for spreading this lie — is it a muscle game? But for what purpose? … I don’t know whose funds were frozen, but I hope they use it for good ,» Kwon wrote on Twitter.