3AC liquidators pursue $1.3bn claim against TerraForm Labs over 2022 crypto crash losses.
Liquidators for failed crypto hedge fund Three Arrows Capital (3AC) are pursuing a $1.3bn claim against TerraForm Labs, co-founded by Do Kwon, over losses after the 2022 crash of TerraUSD and Luna tokens. TerraForm is accused of market manipulation, inflating token prices before their value was wiped out, causing significant losses for 3AC. In April, a jury found TerraForm and Kwon liable for fraud in a US government lawsuit over Luna's collapse.
August 12, 2024
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