Korean police reportedly arrest first person involved in Terra collapse

After months of investigation without any single arrest and the main offender on the run teasing the enforcers on Twitter, South Korean police have reportedly captured the first person involved in the Terra blockchain ecosystem collapse. 

The news about the arrest of Yoo Mo, the head of the business team of Terraform Labs, appeared in Korean media on Oct. 6, later the district prosecutor Choi Sung-kook confirmed the information to Forkast.

The Seoul Southern District Prosecutors’ Office issued a bench warrant on Yoo on Oct. 5, reportedly charging him with the violation of the Capital Markets Act and fraud by manipulating the market price of the stablecoin TerraUSD (UST), now known as TerraUSD Classic (USTC