Lawsuit Over Terra and Do Kwon Voluntarily Dismissed

  • Terraform Labs’ case against Albright Capital has dismissed.
  • Su Zhu, a co-founder of Three Arrows Capital (3AC), tweeted about the dismissal.

According to recent court filings, Albright Capital, an investment firm, voluntarily dismissed its lawsuit against Terraform Labs. In its case, Albright Capital claimed Terraform Labs had promoted the UST, Terra (LUNA), and misleadingly associated Terra cryptocurrencies.

Zhu SU About the Dismissal

After the Terra collapse in May 2022, Albright Capital and the legal team Scott +Scott, Bragar Eagel & Squire independently brought class actions against Terraform Labs. Co-founder of the insolvent Three Arrows Capital (3AC), Zhu Su, tweeted the information. He expressed his curiosity about how soon the news would be covered by crypto-native media. 

In September, South Korean officials issued a warrant for Kwon’s arrest. The warrant issued four months after the $40 billion Terra ecosystem and its algorithmic stablecoin collapsed (UST).  According to reports, Kwon is hiding in Serbia. It should be emphasizes that Interpol has already declared a “red notice” on Kwon, and South Korean authorities have ordered him to surrender his passport. Even though time had passed, the government nonetheless decided to revoke his passport

Furthermore, Jimmy Le, a member of the LUNA community, accused by Terraform Labs (TFL) of refusing to refund $LUNA airdrops that had been incorrectly assigned and were worth around $6-7 million. Jimmy Le stated that TFL’s communication tactics were insufficient.  Jimmy also gives reasons for the money placed aside for the transaction’s tax purposes, indicating that he intends to do so.

Journalism graduate who loves to write and Karate. And I love exploring new concepts and that brought me into the fascinating crypto and blockchain technology…