According to a report from CNBC, South Korean authorities apprehended Terra’s Head of General Affairs, Yu Mo, as part of their investigation against Do Kwon and the LUNA debacle. The suspect was captured without an arrest warrant to prevent him from fleeing the country.
Mo is one of the five individuals charged by the Seoul Southern District Prosecutors’ Office of allegedly violating the country’s capital markets law by committing fraud. Along with Do Kwon, Mo was allegedly involved in the creation, promotion, and support of the failed Terra (LUNA/LUC) ecosystem.
At its peak, this project’s market cap stood at over $40 billion and upon its collapse, it destroyed the capital of several investors, and many major companies in the crypto industry, including hedge fund Three Arrows Capital (3AC) and crypto lender Celsius Network. The Terra incident has been devasting for many betting on its success.
This has attracted the attention of authorities in South Korea determined to bring Do Kwon and other key Terra members to justice. Kwon is the main
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