bitcoin
Bitcoin (BTC) $ 16,853.78 1.33%
ethereum
Ethereum (ETH) $ 1,233.39 2.97%
tether
Tether (USDT) $ 1.00 0.09%
bnb
BNB (BNB) $ 284.48 1.90%
usd-coin
USD Coin (USDC) $ 1.00 0.18%
binance-usd
Binance USD (BUSD) $ 1.00 0.06%
xrp
XRP (XRP) $ 0.384555 1.86%
dogecoin
Dogecoin (DOGE) $ 0.096008 4.34%
cardano
Cardano (ADA) $ 0.310994 2.34%
matic-network
Polygon (MATIC) $ 0.897386 2.28%
polkadot
Polkadot (DOT) $ 5.30 3.63%
staked-ether
Lido Staked Ether (STETH) $ 1,220.64 2.79%
litecoin
Litecoin (LTC) $ 77.04 3.71%
shiba-inu
Shiba Inu (SHIB) $ 0.000009 2.15%
okb
OKB (OKB) $ 20.94 0.72%
dai
Dai (DAI) $ 1.00 0.13%
solana
Solana (SOL) $ 13.53 5.39%
tron
TRON (TRX) $ 0.053226 0.83%
uniswap
Uniswap (UNI) $ 6.01 2.70%
avalanche-2
Avalanche (AVAX) $ 13.28 2.87%
leo-token
LEO Token (LEO) $ 3.79 0.46%
chainlink
Chainlink (LINK) $ 6.89 3.23%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,813.29 1.28%
cosmos
Cosmos Hub (ATOM) $ 9.62 5.34%
the-open-network
The Open Network (TON) $ 1.82 0.78%
monero
Monero (XMR) $ 144.19 0.56%
ethereum-classic
Ethereum Classic (ETC) $ 18.78 4.13%
stellar
Stellar (XLM) $ 0.084486 2.07%
bitcoin-cash
Bitcoin Cash (BCH) $ 109.41 2.33%
quant-network
Quant (QNT) $ 117.55 3.72%
crypto-com-chain
Cronos (CRO) $ 0.0643 3.75%
algorand
Algorand (ALGO) $ 0.222183 5.31%
filecoin
Filecoin (FIL) $ 4.35 5.15%
near
NEAR Protocol (NEAR) $ 1.69 5.31%
apecoin
ApeCoin (APE) $ 3.90 6.49%
vechain
VeChain (VET) $ 0.018715 2.62%
hedera-hashgraph
Hedera (HBAR) $ 0.047322 2.31%
internet-computer
Internet Computer (ICP) $ 4.17 4.68%
flow
Flow (FLOW) $ 1.05 6.08%
eos
EOS (EOS) $ 0.99249 3.42%
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 44.25 2.57%
trust-wallet-token
Trust Wallet (TWT) $ 2.45 4.97%
frax
Frax (FRAX) $ 0.999803 0.07%
terra-luna
Terra Luna Classic (LUNC) $ 0.000165 3.60%
axie-infinity
Axie Infinity (AXS) $ 8.51 3.80%
the-sandbox
The Sandbox (SAND) $ 0.585027 4.91%
tezos
Tezos (XTZ) $ 0.988857 2.78%
theta-token
Theta Network (THETA) $ 0.878156 2.90%
aave
Aave (AAVE) $ 61.36 3.97%
chain-2
Chain (XCN) $ 0.038439 1.63%

Terra’s Do Kwon faces New $57M Lawsuit from Investors

08/12/2022

MetaVentures Bangkok 2022

Bangkok, Thailand
14/12/2022
27/02/2023

ICBM Expo

Dubai, UAE
03/03/2023
The Crypto Times

Another lawsuit filed in Singapore on behalf of greater than 350 traders who misplaced near $57 million within the collapse of the TerraUSD coin poses a risk to its fugitive co-founder Do Kwon.

The lawsuit additionally names Terra founder Nicholas Platias and members of the Luna Foundation Guard (LFG) along with Do Kwon.

Although the case was filed on September 23, it has acquired little consideration so far. It claims that Mr. Kwon dedicated “fraudulent misrepresentations” concerning TerraUSD’s stability, a so-called algorithmic stablecoin that employed monetary engineering to maintain a one-to-one relationship with the US greenback.

359 folks accuse Kwon, Platias, the LFG, and Terra of creating false statements in a lawsuit they filed in Singapore’s excessive court docket. The lead claimants within the swimsuit are a Spanish citizen, Julian Moreno Beltran, and a Singaporean, Douglas Gan Yi Dong. 

They declare, amongst different issues, that Terra’s stablecoin TerraUSD (UST), now TerraUSD Classic (USTC), was not “stable by design” and was unable to take care of its peg to the US greenback.

Based on the worth of the UST tokens they purchased, held, or bought through the market hunch in May, the claimants are asking for compensation for a complete of about $57 million in “loss and damage.” Additionally, they need an order to pay “aggravated damages.” They are represented by Drew & Napier, one in all Singapore’s high regulation companies.

Since the Terra blockchain ecosystem collapsed in May, Kwon has been the sufferer of many authorized actions and threats. In September, South Korean officers issued a rescinded arrest order for the Terra co-founder. Interpol then added Kwon to its Red Notice checklist, urging that regulation enforcement find and maybe jail him. 

In an announcement, a spokesperson for Mr. Kwon’s Terraform Labs, one of many defendants within the lawsuit, said that the corporate did nothing illegal and would vigorously defend itself.

“There is a fundamental difference between a public market event and fraud,” the spokesperson mentioned. “The risks were publicly known and discussed, and the underlying code was open-sourced.”

Compiled by Coinbold

Top Gainers
NamePrice24h %
Top Losers
NamePrice24h %