$1.3 billion requested by the liquidators of the crypto hedge fund 3AC for Terraforming🚀

Massive Lawsuit Filed against Terraform Labs by 3AC Liquidators

Recent developments reveal that the liquidators of the crypto hedge fund Three Arrows Capital (3AC) have escalated the legal battle against Terraform Labs, suing the company for a staggering 1.3 billion dollars in damages.

Change of Scene:
- The liquidators of 3AC have shifted their focus from the founders to Terraform Labs
Manipulation Accusations:
- Claims state that TerraForm induced 3AC to purchase Luna and TerraUSD, manipulating the market
Network Collapse:
- The collapse of the Terra network in May 2022 led to significant losses for investors

Terraform Labs in Hot Water for Alleged Market Manipulation

The ongoing lawsuit by the liquidators of 3AC points fingers at Terraform Labs for their loss, accusing the company of manipulating the market to inflate the prices of Luna and TerraUSD tokens.

Bankruptcy Proceedings:
- TerraForm Labs is currently bankrupt and in the final stages of its closure
SEC Agreement:
- Under an agreement with the SEC, Terraform is required to pay 4.5 billion dollars
Asset Sale:
- Terraform is attempting to sell off Pulsar Finance, Station, Enterprise, and Warp to meet its obligations

The Troubles of Co-founder Do Know

The journey of Do Know, co-founder of Terraform Labs, has been tumultuous, from arrests to convictions in ongoing legal battles.

Arrest and Extradition:
- Do Know was arrested in March 2023 and faced multiple extradition requests to the USA
Release and Conviction:
- Do Know was released in March 2024 and later convicted for fraud in April 2024