Three Arrows Capital liquidators seek at least $1.3 billion in compensation from Terraform Labs

2024-08-13 00:08:59

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The liquidator of the bankrupt Cryptocurrency Hedging fund, 3AC, is seeking at least $1.3 billion in compensation from Terraform Labs to make up for the losses suffered by the fund after the collapse of TerraUSD and Luna Token in 2022. The liquidator stated in court documents that prior to the collapse of these Tokens, Terraform manipulated the market for these Tokens in a way that artificially inflated asset prices, inducing 3AC to purchase Luna and TerraUSD. They claimed that the collapse not only wiped out 3AC's investments in these Tokens,

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