📉 Investors dropped their fraud lawsuit against Terraform Labs and its co-founder Do Kwon. The reasons for dismissing the claim without the right to renew are not specified.
- The lawsuit was filed in June 2022 following the collapse of Terraform Labs, which is widely considered to be the cause of a major cryptocurrency crash.
- In February, the U.S. Securities and Exchange Commission filed a civil lawsuit against Kwon and Terra for allegedly “engaging in a multi-billion dollar crypto asset fraud.”
- In March, Montenegrin authorities arrested Kwon and sentenced him to 4 months in prison for using false documents.
- The lawsuit was filed in June 2022 following the collapse of Terraform Labs, which is widely considered to be the cause of a major cryptocurrency crash.
- In February, the U.S. Securities and Exchange Commission filed a civil lawsuit against Kwon and Terra for allegedly “engaging in a multi-billion dollar crypto asset fraud.”
- In March, Montenegrin authorities arrested Kwon and sentenced him to 4 months in prison for using false documents.