A former developer of the fallen company Terra has raised $15 million for his startup.

Neel Somani launched Eclipse, his Solana-based cross-chain modular startup, following the collapse of TerraUSD. At his old company, he worked in Newfoundland, a Ethereum virtual machine (EVM) that connects the TerraUSD stablecoin ecosystem with Ethereum.

One of the main motivations behind the Eclipse project was Terra’s ecosystem of talented developers. He tried to build something similar despite being associated with the company, which collapsed and ended up with roughly $60 billion.

Prior to working for Terra, Somani was a Quantitative Analyst for Citadel. His cryptographic career began by working part-time as a cryptographic engineer.

Previously, Eclipse had raised $6 million in a three-week pre-seed round over the summer. Investors like Solana co-founder Anatoly Yakovenko and Polygon were part of the round.

After that, there was another funding round of a $9 million seed round led by Tribe Capital and Tabiya.

According to Somani, Eclipse will release its first protocol release early next year.

Meanwhile, her former workplace Terra and her former co-workers face investigation or arrest.

South Korean prosecutors in charge of the Terraform Labs case recently arrested a top employee of the beleaguered blockchain startup called ‘Yoo’.

According to Korean media platform JTBC, Yoo is one of the six people for whom prosecutors have issued an arrest warrant. Her specific offense focuses on market manipulations.

According to the report, Yoo’s market manipulation violated Korea’s Capital Markets Law. With the authorities’ history of evading, a court order will be issued to keep Yoo in custody until his trial date.

With more than $40 billion in investor funds wiped out in the blink of an eye, South Korean regulators are seriously looking at who to blame for the crash for law enforcement. Do Kwon has been on the run since the investigation began, although he claims he is not in hiding.

Korean prosecutors have raided exchanges that might have transaction records involving the collapsed LUNA and UST tokens. While the discoveries made from these raids remain an enigma, the determination to bring Do Kwon in for questioning and trial has intensified in recent weeks.

Korean prosecutors have also sought help from Interpol, and a Red Notice has been issued to apprehend Do Kwon for arrest. Since seizing his personal cash holdings is not enough to get him out, Korean regulators voided his passport after first sending him a message that he should return the passport within 14 days.

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