🔍New data from SEC documents has renewed the controversy surrounding the failed Terraform Labs crypto project. Montenegro Prime Minister Milojko Spajic invested $75,000 in Terraform Labs in April 2018 to purchase 750,000 Luna coins.

Spajic was among the early investors who invested in the company just days before it was founded. Terraform Labs LTD was registered in Singapore on April 23, 2018.

Terraform Labs was behind crypto tokens Luna and TerraUSD, which had a market capitalization of $2 billion before their May 2022 crash, which wiped out nearly $40 billion from the crypto market.

Terraform Labs co-founder Do Kwon was found guilty of defrauding investors and was eventually arrested in March 2023.