Collection against Terraform Labs dropped
Collection against Terraform Labs dropped
It was more than half a year ago that the first big player went down in the crypto room, with the extremely unstable "StableCoin" Verlon lost their bond and their creator, terraform Labs, moved to the abyss.
The founder of TFL, do Kwon, has been on the run since then and reports reportedly hidden in Serbia after short stays in Mauritius, Dubai and so on. Several lawsuits were submitted against Terraform Labs and Kwon, the two accused of fraud among other things. However, one of these complaints was just dropped.
no reason given
The class action was submitted by Matthew Albright by Albright Capital and rejected on January 9th.
"The plaintiff Matthew Albright hereby announces that the above -mentioned lawsuit is rejected voluntarily and unscathed."
The lawsuit was submitted against Terraform Labs, the Luna Foundation Guard, Do Kwon and several other parties associated with Terra. The case was discontinued "unscathed and at no cost", which means that it can be resumed at any time. However, if a case is set voluntarily, it is difficult to imagine why it should be submitted again.
However, this is only one case. There are several other lawsuits against the above companies, of which none is still close to a solution today.
3AC co-founder comments on the discharge
Not long after Terraform Labs collapsed, another top -class player in the crypto industry, Three Arrows Capital, also went under.
At that time, the 3AC founders made the collapse of their asset management company partly due to the collapse of VAT and claimed that a significant part of their reserves had evaporated overnight due to the de-pegging of the controversial stable coin.At the time of writing these lines, 1 UStc (VAT Classic), which should be bound to the US dollar, is currently worth $ 0.02 according to Coingecko.
ZHU SU - the co -founder of 3AC - commented on the discharge and supposedly indicated a possible future cover -up by the media.
curious how long cryptical media will need to report on this sudden voluntary rejection of the collective action against the Luna Foundation and Luna investors pic.twitter.com/8symhb4u4g
- ZHU SU 🔺 (@ZHUSU) 10. January 2023
The reactions to the post were mixed, whereby his audience was split between those who believed Zhu simply try to hide his own failed operation, and Terra fans who claimed that this was the beginning of the reimbursement of the project.
At the moment, however, other cases are running against Terra, and do Kwon is still the subject of a Red Notice from Interpol.
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