Terraform liquidator accuses Jane Street of using private Telegram groups to obtain insider information

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Deep Tide TechFlow News, May 20 — According to CoinDesk, recently unsealed court documents show that Wall Street quantitative trading giant Jane Street is accused of obtaining non-public internal information from Terraform Labs through a private Telegram group called “Bryce’s Secret” before the Terra collapse in 2022, and selling approximately $192 million worth of UST in advance, while establishing short positions, profiting about $134 million during the collapse of the Terra ecosystem, which was worth around $40 billion.

The complaint states that on May 7, 2022, just nine minutes after Terraform withdrew $150 million in liquidity from the Curve pool, Jane Street sold about $85 million worth of UST on Curve. The related wallet is subsequently suspected of being a key address responsible for UST de-pegging. However, Jane Street denies the allegations, calling the lawsuit “baseless,” and says it will actively defend itself.

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