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Terra co-founder Do Kwon faces $57-million lawsuit in SingaporeDo Kwon, the co-founder of Terraform Labs who may be facing legal actions in South Korea and the United States, is the target of a lawsuit in Singapore along with the Luna Foundation Guard (LFG) and founding member Nicholas Platias.
In a lawsuit filed in Singapore’s high court on Sept. 23, 359 individuals allege Kwon, Platias, the LFG and Terra made fraudulent claims, including that Terra’s stablecoin, TerraUSD (UST) — now TerraUSD Classic (USTC) — was not “stable by design” and unable to maintain its U.S. dollar peg.
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