Terraform Labs' bankruptcy administrators have filed a $4 billion claim against Jump, alleging that Jump was responsible for Terraform's collapse.

The bankruptcy administrators responsible for liquidating the remaining assets of Terraform Labs, which is handling Do Kwon's operations, have filed a lawsuit against Jump Trading, accusing the high-frequency trading giant of illegally profiting and contributing to the collapse of the "crypto empire." Todd Snyder, the bankruptcy court-appointed administrator, is seeking $4 billion in damages from Jump, co-founder William DiSomma, and Kanav Kariya, who rose through the ranks from intern to president of Jump's cryptocurrency trading business.