Terraform Labs Caused Collapse Of Its Stablecoin UST? This Report Says So

Terraform Labs Caused Collapse Of Its Stablecoin UST? This Report Says So

The company behind the failed Terra (LUNA) ecosystem, now dubbed Terra Classic (LUNC), Terraform Labs (TFL) could be behind the collapse of its native algorithmic stablecoin UST. Per a report from CoinDesk Korea, investigators linked the company to the attack that led to UST losing its peg to the U.S. dollar. Related Reading | Bitcoin Will […]

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US SEC Investigating Do Kwon’s Terraform Labs and UST Collapse: Report

The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Terraform Labs and the collapse of algorithmic stablecoin terrausd (UST). “SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules.” SEC Launches Investigation of Terraform Labs and UST The U.S. SEC is investigating Terraform Labs and its algorithmic stablecoin terrausd (UST), Bloomberg reported Thursday, citing people familiar with the matter. UST lost its peg to the U.S. dollar in early May. The stablecoin quickly lost....

Do Kwon Dissolved Terraform Labs Korea Days Before Collapse of Terra LUNA, UST

Official records show Do Kwon dissolved Terraform Labs Korea, closing down its headquarters and sole branch just days before the collapse of terra crypto (LUNA) and stablecoin terrausd (UST). Do Kwon Shut Down Terraform Labs Korea Before UST and LUNA Fallout Terraform Labs founder Do Kwon reportedly closed down his company in Korea days before the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). According to South Korea’s supreme court registry office, Terraform Labs Korea decided to dissolve its Busan headquarters and Seoul branch at the general shareholders....

Class-Action Lawsuit Accuses Terraform Labs of Misleading Investors

Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff Nick Patterson on behalf of others similarly situated and the law firm Scott+Scott LLP. A Class-Action Lawsuit Has Been Filed Against TFL and Affiliated Firms — Plaintiffs Claim Terra-Based Tokens Were Unregistered Securities According to recently filed documents in the U.S. District Court in Northern....

Terraform Labs’ Legal Team Quits After UST Crash – Another Blow To Kwon

The ongoing rigmarole with Terraform Labs, the blockchain developer behind Terra (LUNA), took a turn after a purported modification in job status for some members of the company’s legal staff. The internal legal team at Terraform Labs resigned shortly after the implosion of Terra’s algorithmic stablecoin caused a significant blow to the broader crypto markets. Suggested […]

Terraform Labs Investigation Intensifies: Seven Crypto Exchanges Linked To Co...

The South Korean cryptocurrency ecosystem is still experiencing issues because of the Terraform Labs probe. According to reports, the nation’s authorities advanced the probe on Wednesday with their most recent actions. The investigation into the fraud claims against the Terraform Labs management is still ongoing. Terraform Probe Heats Up As part of their ongoing inquiries […]