🌖 3AC Seeks $1.3B from Terraform Labs:

Three Arrows Capital (3AC) is seeking $1.3 billion in damages from Terraform Labs.

The claim alleges that Terraform Labs misled investors about the stability of its tokens, TerraUSD (UST) and Terra Luna (LUNA), leading to significant losses when the Terra ecosystem collapsed in May 2022.

This lawsuit follows 3AC's bankruptcy later that year and the ongoing legal troubles of Terraform Labs' co-founder Do Kwon.

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