Singapore Court Orders Terraform Labs and Do Kwon to Compensate TerraUSD Victim Investors Over $3 Million

According to Bloomberg, the Singapore International Commercial Court ruled that Terraform Labs and its founder Do Kwon committed fraud in cases related to the 2022 TerraUSD stablecoin collapse and ordered them to compensate 40 claimants over 3 million USD. This ruling is part of the second phase of cases involving claims from 275 investors, with compensation amounts calculated based on the quantity of UST held by claimants and the holding period.