Singapore Court Orders Terraform Labs to Pay Over $3 Million to UST Investors

According to Bloomberg, Singapore's International Commercial Court ruled on June 29 that Terraform Labs and its founder Do Kwon must pay over $3 million in compensation to 40 claimants linked to the TerraUSD (UST) collapse. The court found the defendants liable for fraudulent misrepresentation. This ruling marks the second batch of judgments in the phase-two proceedings, which involve a total of 275 investors. Compensation amounts were calculated based on each claimant's UST holdings and duration of investment.
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