Terraform Labs founder Do Kwon‘s aide, Yoo Mo, has been arrested by South Korean officials for fraud and market manipulation. At the same time, the country’s Ministry of Foreign Affairs gave Kwon 14 days to return his passport, according to local news reports.
Yoo Mo was arrested on Oct. 6. He was the Head of General Affairs at Terraform Labs and is considered a key aide of Kwon.
Mo is the first individual arrested in the ongoing Terraform Labs investigation.
The Ministry of Foreign Affairs issued the latest warrant on Oct. 5 and requested Kwon to return his passport to a passport office or diplomatic mission abroad. The warrant states that if Kwon fails to do so, the Ministry will invalidate Kwon’s passport in accordance with article 13 of the passport act.