Friday, February 3

Tag: May Terra collapse

Lawsuit Against Terraform Labs Increases As Plaintiff Albright Charges On Behalf May Terra Collapse’s Victims
Blockchain

Lawsuit Against Terraform Labs Increases As Plaintiff Albright Charges On Behalf May Terra Collapse’s Victims

The lawsuit against Terraform Labs has not declined but rather is on the increase daily. According to a report by the legal news outlet Law360, Terraform and two of its executives which include the Terraform Labs CEO, Do Kwon, were accused of violating the Racketeer Influence and Corrupt Organization Act. The charge against them was as a result of the UST inflation and promotion of false information in the recent Terra collapse, which claimed multi-million dollars, almost $80 million. Read Also: A Mysterious Wallet Initiates A Burn Of Over 309 Million In Two Days As stated by the Law360:“Defendants touted the stability of the coins and guaranteed 20% annual returns on coins deposited in Terraform Labs’ high-yield savings application on the Terra blockchain — the Anchor Protocol,”...