May 2022 saw a massive fall in the value of the stablecoin terraUSD (UST) and its companion token (LUNA) on the terra blockchain, with the coins plummeting to a point of them being essentially worthless and unable to be traded on several major cryptocurrency exchanges. The worldwide crash of Terra/LUNA wiped out more than $18 billion in value and has left countless cryptocurrency investors angry and wondering where to turn for relief now that their UST/LUNA holdings are empty. Much of that confusion and anger is focused on Terraform Labs, the Singapore-based entity behind terraUSD and LUNA whose CEO (Do Kwon) was one of the pseudonymous co-founders behind the failed algorithmic stablecoin Basis Cash (BAC). Like terraUSD, BAC failed; and the lessons to be learned from that earlier failure appear to have not been heeded in the failure of UST/LUNA.
Silver Miller (www.SilverMillerLaw.com) -- the leading cryptocurrency investor law firm in the country, with vast experience litigating against Initial Coin Offering (ICO) promoters and other crypto coin purveyors -- is already investigating the UST/LUNA crash on behalf of investors amidst their concerns of fraud, misrepresentations, and potential securities law violations. UST/LUNA investors concerned about their investments are urged to contact Silver Miller at 954-516-6000 or DSilver@SilverMillerLaw.com. Please fill out the Confidential Free Consultation form on this page for a no-cost, no-obligation consultation to discuss your legal rights.
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