Singapore court rules Terraform to pay over $3 million in total compensation to appealing investors.
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According to Bloomberg, the Singapore International Commercial Court has ruled in a fraud case linked to the 2022 TerraUSD stablecoin collapse that Terraform Labs Pte Ltd and its founder Do Kwon must pay compensation to 40 plaintiffs. The plaintiffs were awarded over $3 million in total damages, concluding the second phase of the case. The case involves 275 investors who claimed losses from the UST cryptocurrency crash. The court stated that the compensation amount was calculated in part based on the number of UST tokens held by the plaintiffs and the duration of their holdings.
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