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 Nov. 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 Nov. 5, reportedly charging him with the violation of the Capital Markets Act and fraud by …

Terra co-founder Do Kwon, wanted by South Korean authorities, seems to live in a digital-era James Bond movie. The businessman, whose whereabouts are currently unknown, reacted via Twitter to Interpol issuing a Red Notice on him. Kwon told his followers that he calmly writes code in his living room, “making zero effort to hide.” Active on social media while facing potential arrest and prosecution in South Korea, Kwon showed his location as Singapore on his Twitter account at the time of publication. Meanwhile, South Korean authorities have requested crypto exchange OKX and Kucoin to freeze 3,313 Bitcoin (BTC) reportedly tied …

Terraform Labs, the company behind the development of the Terra (LUNA) blockchain said South Korea’s case against its co-founder Do Kwon has become political, alleging prosecutors expanded the definition of a security in response to public pressure. “We believe that this case has become highly politicized, and that the actions of the Korean prosecutors demonstrate unfairness and a failure to uphold basic rights guaranteed under Korean law,” a Terraform Labs spokesman said to The Wall Street Journal on Sept. 28. South Korean prosecutors issued an arrest warrant for Kwon on Sept. 14 for violations of the countries capital markets laws, …

South Korean authorities have requested crypto exchange OKX and Kucoin to freeze 3,313 Bitcoin (BTC) reportedly tied to Do Kwon, the co-founder of Terra blockchain developer Terraform Labs. Kwon, who is currently on the run from the Korean authorities in the securities violation case, reportedly created a new wallet on Sept. 15, just a day after a Korean court issued an arrest warrant against the fugitive crypto founder. According to the crypto analytic group Cryptoquant, a new BTC wallet was created under the name of Luna Foundation Guard (LFG), and a total of 3,313 BTC was then transferred to the …

Terra co-founder Do Kwon, wanted by South Korean authorities and whose whereabouts are currently unknown, has suggested he’s not changing his routine in response to potential legal action. In a Monday tweet, Kwon said members of Crypto Twitter had likely seen him walking on the street or around shopping malls — without mentioning the city or country — in “the past couple weeks” despite Interpol reportedly issuing a Red Notice for the Terra co-founder. Kwon told his more than one million followers in a reply that he had not seen his name on Interpol’s list of individuals to “locate and …

Interpol has reportedly issued a “Red Notice” to law enforcement worldwide for the arrest of Terraform Labs co-founder Do Kwon. South Korean prosecutors in Seoul on Monday told Bloomberg the international policing organization issued the notice in response to charges Kwon faces in South Korea related to the collapse of the Terra ecosystem. The news comes only a week after South Korean prosecutors reportedly asked Interpol to issue a “Red Notice” for Kwon on Sept. 19. A Red notice is a “request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action” …

Crypto-focused finance company Delio has partnered with Blockdaemon to launch retail-focused staking services, giving customers a more seamless way to earn rewards on their digital asset holdings. Delio’s staking services expand its existing crypto-bank offerings, which include lending, deposits and deposit accounts, the company announced Thursday. The new service offering is powered by blockchain infrastructure provider Blockdaemon, which provides a suite of institutional staking products. While Delio didn’t specify which crypto assets will be included in the new staking services, Blockdaemon currently supports integration with over 60 blockchains. Delio representative James Jung also clarified that the firm also plans “to …

According to local news outlet mk.co.kr, the South Korean government has seized over 260 billion Korean won ($180 million) worth of cryptocurrencies in the past two years due to tax arrears. The country's politicians enacted regulations allowing for the seizure of digital currencies for tax delinquencies and began enforcing them last year. One individual living in Seoul, dubbed "Person A," had 1.43 billion won worth of tax arrears and had his cryptocurrency exchange account seized by authorities. The account contained 12.49 billion won of digital assets spread across 20 coins and tokens, including 3.2 billion won in Bitcoin and 1.9 …

Do Kwon, the co-founder of the Terra ecosystem, took to Twitter on Saturday asserting he’s “not ‘on the run’ or anything similar” after the Singapore Police Force (SPF) said Kwon wasn’t in the city-state. On Sept. 14, South Korean authorities issued an arrest warrant for Kwon and five other associates for alleged violations of the country’s capital markets laws. All were known to be in Singapore at the time, with prosecutors also attempting to revoke their passports a day later on Sept. 15. “For any government agency that has shown interest to communicate, we are in full cooperation and we …

The Ministry of Science and ICT (MSIT) of South Korea revealed plans to move away from imposing traditional video gaming laws on the Metaverse. Instead, the ministry decided to issue new guidelines for incentivizing the growth of the budding ecosystem. South Korea’s interest in garnering Web3 and the Metaverse ecosystems is evidenced by the $200 million investment it made for the creation of an in-house Metaverse. Running parallel to this effort, the MSIT identified that imposing older regulations serve as a deterrent to the growth of new ecosystems. In the first meeting of the National Data Policy committee, MSIT noted …

Guidelines for security tokens in South Korea will be announced by the end of 2022. Simultaneously, the pilot market with a regulatory sandbox will be launched before the formal institutionalization. Chief South Korean financial regulator, the Financial Services Commission (FSC), published the report with the results of a joint policy seminar it held together with the Financial Supervisory Service, Korea Exchange, Korea Securities Depository and Capital Market Research Institute on Sep. 6. The stakeholders gathered to discuss further national strategy on security tokens issuance and distribution. As the current capital market and electronic securities system in the country doesn’t include …

A YouTube channel owned by the government of South Korea was reportedly hacked and renamed SpaceX Invest, following which the channel uploaded fabricated videos of Elon Musk discussing cryptocurrencies. On Sept 3, the South Korean government's YouTube channel was momentarily hacked and renamed for sharing live broadcasts of crypto-related videos. However, the account was soon restored within four hours following a proactive intervention, confirmed a local report from Yonhap News Agency (YNA). The above screenshot was provided to YNA by a locale that shows the compromised channel being renamed to SpaceX Invest and streaming videos depicting SpaceX CEO Elon Musk. …