Terra LUNA Executive Arrested by South Korean Authorities

According to South Korean’s Naver News.com, Terra Labs Head of General Affairs — Yoo Mo, has been apprehended by Korean Authorities. This is the first ever arrest in the Terra Luna case, and it comes exactly 5 months after the Terra Ecosystem began to crumble. Mr. Yoo is believed to be an integral part of the Terra Luna organisation and also Do Kwon’s aide.

It is believed that Yoo Mo had been fleeing in order to evade arrest. Korean Authorities interest in Mr. Yoo is related to a form of illegal market-making practice.

According to Naver, Prosecutors believe that Mr. Yoo has engaged in creating essentially a fake market for Terra LUNA. By running bot programs that continuously buy and sell a given asset, he had been able to inflate the prices of certain assets by manipulating the market into believing that the asset is a lot more popular and that it’s being traded a lot.

Yoo Mo along with 5 other members of the Terra Luna organisation, including the CEO — Do Kwon have received arrest warrents from the South Korean authorities in relation to the Terra LUNA crash, and as well as tax evasion and potential illegal market making.

In the meantime, the validity of Do Kwon’s passport is due to be cancelled soon, as the Ministry of Foreign Affairs made a recent statement in which…