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A Singapore court ruled that Terraform must pay a total of over $3 million in compensation to investors who appealed
BlockBeats news. On June 29, according to Bloomberg, the Singapore International Commercial Court ruled in a fraud case related to the 2022 TerraUSD stablecoin collapse that Terraform Labs Pte Ltd and its founder Do Kwon must pay compensation to 40 plaintiffs.
These plaintiffs received a total of more than $3 million in damages. The verdict concluded the case’s second phase. The case involved 275 investors who claimed they suffered losses due to the collapse of the UST cryptocurrency. The court said that part of the compensation amount was calculated based on the number of UST the plaintiffs held and the length of time they held it.