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The brains behind the controversial TerraUSD and LUNA coins, TerraForm Labs, are now said to be the target of an eye-popping $1.3 billion lawsuit filed by Three Arrows Capital (3AC) in efforts to recoup damages from the catastrophic breakdown of the digital assets in May of 2022.
It seems Terra's troubles are never-ending! In a recent event, Three Arrows Capital (3AC) filed a $1.3 billion lawsuit against Terraform Labs in an attempt to recoup the huge losses it suffered following the collapse of Luna and TerraUSD according to a Bloomberg report.
Liquidators of the bankrupt cryptocurrency hedge fund Three Arrows Capital are seeking at least $1.3 billion in compensation from Terraform Labs.
The company allegedly manipulated the market of Luna and TerraUSD tokens.
TL;DR Three Arrows Capital Sues TerraForm Labs: Liquidators of the failed hedge fund are seeking $1.3 billion in damages, claiming the 2022 LUNA crash caused substantial losses. Investment Wiped Out: Three Arrows Capital's $190 million investment in LUNA plummeted to around $2,700, with overall crypto holdings dropping by $858 million.
TerraForm sought to "manipulate the open market for LUNA and UST in a manner that artificially inflated the price for the assets," it claims.
Liquidators of the defunct crypto hedge fund Three Arrows Capital are reportedly pursuing a claim of at least $1.3 billion from TerraForm Labs. According to an Aug.
3AC liquidators alleged that Terraform Labs misled the Singaporean hedge fund about the stability of tokens in the Terra ecosystem.
The legal troubles for Terraform Labs are escalating, with Three Arrows Capital (3AC) filing a massive $1.3 billion claim against the company. 3AC blames Terraform Labs for its downfall in 2022.
Defunct cryptocurrency hedge fund Three Arrows Capital's (3AC) liquidators have sued Terraform Labs for $1.3 billion, for losses the fund suffered following the 2022 crash, Bloomberg reported on Monday.
Three Arrows Capital liquidators have filed a lawsuit in pursuit of receiving $1.3 billion from TerraForm Labs. The failed crypto hedge fund states that the collapse of LUNA caused losses for the firm.
Liquidators of the now-defunct crypto hedge fund Three Arrows Capital (3AC), that succumbed to the crash of Luna and TerraUSD, are seeking at least $1.3 billion in compensation from Terraform labs. The claim would help patch the losses that the fund incurred following the 2022 debacle.
Liquidators for Three Arrows Capital (3AC), the now-defunct crypto hedge fund, have filed a lawsuit seeking $1.3 billion in damages from TerraForm Labs.
Three Arrows liquidators are seeking $1.3 billion from TerraForm Labs over losses from the 2022 collapse of its TerraUSD and Luna tokens.
Liquidators for the defunct cryptocurrency hedge fund Three Arrows Capital are pursuing a claim of at least $1.3 billion against TerraForm Labs Pte., the bankrupt digital assets company co-founded by Do Kwon.
The legal challenges of bankrupt Terraform Labs are about to get complicated. This is because former crypto hedge fund giant Three Arrows Capital (3AC) has made a claim of $1.3 billion on the firm.
The crypto markets are undergoing a roller coaster ride, with the major tokens facing extreme pressure on either side. The accumulation of selling pressure over the top two tokens has allowed the other altcoins to swell, LUNC and LUNA being some of them.
The Montenegro Supreme Court has halted the extradition process of Do Kwon to South Korea.
The Supreme Court of Montenegro has postponed the extradition of Terraform Labs founder Do Kwon to his home country of South Korea, pending a review of the legality of the previous court decisions.
The extradition to South Korea is postponed as the court examines procedural issues.
The Supreme Court of the southeastern European nation of Montenegro is again postponing Terra (LUNA) co-founder Do Kwon's extradition to South Korea. According to a report from Montenegrin news outlet Vijesti, Montenegro's Supreme Court has halted the extradition due to a request for “protection of legality” brought forth by Kwon's camp.
The whole saga around Do Kwon's extradition from Montenegro to South Korea has hit another snag. The Supreme Court has decided to delay his extradition until they decide on a legality request raised by the Supreme State Prosecutor's Office.
The postponement is yet another move in Do Kwon's back-and-forth regarding his extradition out of Montenegro.
The Terraform Labs co-founder has been in Montenegro since his arrest in 2023, potentially facing extradition to either his native South Korea or the United States.
