A South Korean law firm is representing investors who lost millions of dollars due to last month’s $40 billion crash of algorithmic stablecoin TerraUSD and its sister token Luna.
Founders of Terraform Labs, Do Kwon and Daniel Shin, who created Luna, have become targets of the crypto industry’s ire after the stablecoin lost its peg to the dollar. Its stabilization mechanism failed and caused Luna to undergo hyperinflation, reducing its value to virtually zero.
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