Jump Trading has been accused of facilitating the collapse of TerraUSD and illegally profiting from Luna.
The lawsuit from the administrator of Terraform Labs includes a claim for $4 billion in damages.
Jump Trading emphasized its resolute defense.$LUNC
The administrator handling the liquidation of Terraform Labs has filed a lawsuit against Jump Trading, accusing one of the largest high-frequency trading firms of illegal enrichment and facilitating the collapse of the Terra ecosystem. The lawsuit states a claim for $4 billion in damages. This was reported by The Wall Street Journal.$ZEC
The lawsuit has been filed in the U.S. District Court for the Northern District of Illinois (Eastern Division). It was initiated by Todd Snyder, appointed by the court as the administrator of the bankruptcy plan for Terraform Labs.$BNB
"Jump Trading actively exploited the Terraform Labs ecosystem through manipulation, concealment of information, and self-enrichment, which brought profits to Jump while financially ruining thousands of unsuspecting investors."