The biggest news in the cryptosphere for Oct.6 includes the arrest and release of Do Kwon’s aide, the EU’s crypto sanctions on Russia, and 0.03 Bitcoin distributed to three winners by Michael Saylor through the Lightning Network.
CryptoSlate Top Stories
South Korea tightens circle on Do Kwon, arrests his aide
Terraform Labs founder Do Kwon’s aide Yoo Mo became the first person to be arrested in the ongoing Terra-Luna investigation. Mo was the Head of General Affairs at Terraform Labs and got arrested on Oct. 6, one day after South Korean authorities released an arrest warrant on Oct. 5.
In the meantime, South Korea issued a separate warrant requesting Kwon to hand in his passport within 14 days. If he fails to do so, his passport will be invalidated by the authorities.
South Korean court dismisses arrest warrant for Do Kwon’s aide
Nearly 12 hours after Mo’s arrest, local news sources reported that a South Korean District Court has denied the arrest warrant against Mo. The initial arrest warrant wanted Mo handcuffed for violating the Capital Market Act.
However, the deciding Judge Jin-Pyo argued that LUNA hadn’t been classified as a security, which meant that Mo may not have violated the Capital Market Act.
EU narrows Russia’s options further with crypto sanctions
The European Union (EU) announced a new set of sanctions that banned all crypto asset wallets, accounts, or custody services belonging to Russian users.
Previous sanctions allowed the above services to operate if they held funds lower than €10,000.
Saylor gives away BTC via lightning network
Michael Saylor sent 0.03 Bitcoin (BTC)in sats to three winners of his Lightning meme contest using Lightning Network.
The correct answer is Yes, and I will make three more transactions of 1,000,000 sats each to the 3 posters of the most liked #Lightning⚡️ memes in the comments below. https://t.co/qXZ90q4Ly9
— Michael Saylor⚡️ (@saylor) October 4, 2022
The contest ended on Oct. 5, and Twitter users ShireHODL, NEEDcreations, and publordhodl received 1 billion sats each.
Number of active Ethereum users increased 36% in Q3 despite bear market
Ethereum (ETH) gained more than 4.5 million new active users during the third quarter of 2022, as the data from Dune Analytics indicates. This increase equates to a 36% growth in the active user base.
Ethereum active users have recorded a steady decrease since the fourth quarter of 2022. Some analysts claimed that his sudden…
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