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

CoinFeed June 29 news, according to Bloomberg, the Singapore International Commercial Court awarded over $3 million in total compensation to 40 claimants related to the collapse of TerraUSD (UST) in a fraud case against Terraform Labs and its founder Do Kwon. The second phase of the case involved 275 investors, with compensation amounts calculated based on factors such as the amount of UST held and the holding period. The court ruled that the defendants committed fraud in relevant statements. This judgment is the second batch ruling for this group of class claims, and subsequent claims and enforcement progress are yet to be further disclosed.