Reported: Terraform Labs LUNA (Company)
Compiled by ScamMarketCap from public recordsHappened May 9, 2022Singapore
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TerraUSD (UST) was an "algorithmic stablecoin" that was supposed to hold a value of one dollar, supported by a sister token, LUNA. In May 2022 UST lost its peg and both tokens collapsed within days, wiping out about $40 billion in market value. Many holders had been drawn in by the Anchor protocol, which advertised yields of close to 20% on UST deposits.
In April 2024 a jury found Terraform Labs and co-founder Do Kwon liable for fraud in a civil case brought by the US Securities and Exchange Commission. Kwon pleaded guilty to two criminal fraud charges in August 2025, and in December 2025 a federal judge in New York sentenced him to 15 years in prison, calling it a fraud of "epic, generational scale."
This case file is compiled from public records and established reporting. Status as of the last update, Nov 1, 2026.
Case files summarize court records, regulator actions and established reporting.
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Case files summarize court records, regulator actions and established reporting.
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