Do Kwon faces a $57 million class action lawsuit in Singapore

ChainCatcher news, according to The Wall Street Journal, Terra founder and CEO Do Kwon is facing a $57 million class action lawsuit in Singapore. The lawsuit was initiated by 359 investors, accusing Do Kwon, Platias, and LFG of deliberately misrepresenting the price stability of UST.

Additionally, the plaintiffs allege that Do Kwon falsely advertised the lending service Anchor Protocol to investors and promised high returns, deceiving customers into purchasing more UST. (Original link)