The South Korean prosecutor’s office detained a Terraform Labs (TFL) employee who had been on the run within the country and requested an arrest warrant for him. This is reported by JTBC.
Authorities consider the man named Yu in the report to be one of the key aides to TFL CEO Do Kwon. It is believed that the suspect was involved in ‘creating a market’ in the collapsed Terra ecosystem, pumping trading volumes through bots to manipulate asset prices.
On September 14 in Korea issued an arrest warrant for Do Kwon and five other TFL employees. Yu is among them.
According to the report, the court will decide on his detention on October 6.
The head of TFL said that he is not in hiding and is cooperating with law enforcement. In late September, Bloomberg reported that Interpol issued a Red Notice for Do Kwon. As of writing, his record does not appear on the site of the agency.
After the arrest warrant was issued, prosecutors turned to the Ministry of Foreign Affairs to revoke the passports of those named in it.
In early October the ministry granted the law enforcement request. Kwon was ordered to return his passport within 14 days.
Authorities initiated a prosecutor’s review of TFL in May, according to reports initiated a prosecutor’s review of TFL in May, according to reports.
In July, authorities carried out searches at the home of TFL co-founder Daniel Shin and at the office of early investor Dunamu & Partners.
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