🔸The trustee of Terraform Labs has just launched a severe legal attack in the US court, suing Jump Trading for compensation of up to $4 billion USD. It is alleged that Jump engaged in secret agreements to gain illicit profits, directly contributing to the disaster of the Terra ecosystem collapse that left many people in dire situations.
🔸Specifically, Jump has been accused of secretly propping up the price $USTC during the depeg incident in 2021 to create a sophisticated algorithmic façade to hide system flaws. In return, they were able to purchase a large amount of $LUNA at a rock-bottom price and dump it on investors to cash out billions of dollars. This lawsuit aims to reclaim funds for creditors after Do Kwon was officially sentenced to 15 years in prison.
Will the big player Jump Trading have to cough up money or will there be new legal developments?
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