Bitcoin Forum

Link Collection of links regarding legal actions for UST and LUNA holders


There are several legal actions ongoing regarding UST and LUNA holders.

Some focus on exchanges, some other focus on TFL, Do Kwon, LFG, Jump Trading and other VCs

In many cases everyone in the world can join, in some cases it is for u.s. cases first and international follows at a later date.
Most of the class action is free for the victims (contigency based). In case of Fatman and Kyle Roche laywers, Roche gets 33% if they win and they pay the laywer fees themself if they loose. Also laywers taking such a case if they are confident to win.

3 Laywers i know:

- Kyle Roche, currently sueing us exchanges (currently us customers can join, other countries will follow). Free (contigency based,)

- Scott and Scott sueing TFL, Do Kwon, Jump (currently us customers can join, other countries will follow) (Free, Contigency based)

- Drewnapier: Singaporean laywer, mainly for Singaporen, but other countries can join as well (I joined from an other asian country). Fee for the injunction is about 15000 to 25000 SGD shared between all claimants on a pro ratio basis, means someone who has 50000 UST claim should be paying about 736 SGD (530 USD). The fee will go lower the more people joining. Currently 1,7 million USD (on 21.06.2022) in claims have singed already up there.


Legal links:

Discord link to Fatman regarding legal actions against LFG, TFL and Do Kwon and exchanges (Roche/Scott and Scott)
https://discord.gg/k3DPgn9ds6

Some legal background information:
https://classic-agora.terra.money/t/next-steps-for-luna-ust-holders-a-detailed-analysis/22084

Fatmans twitter account:
https://twitter.com/FatManTerra

Website Drewnapier (singaporean lawsuit): Mr. Mahesh-Rai
https://www.drewnapier.com/Our-Lawyers/Mahesh-Rai
You can contact the laywer directly. Indicate legal name, UST amounts, date of purchase
Who is eligible? (UST holders, UST holders pre-depeg, but sold at a loss etc) Anybody who bought and hold UST before May 13, no matter if they sold or not after that date


Discord link regarding singaporean lawsuit Drewnapier (just for organizing, community created)
https://discord.gg/Ef9YYphAPD

If anyone has other information about other lawsuits, please post. Thank you

The lawsuit is very expensive and long, but here are the real stories of people who lost their savings.

https://www.wsj.com/articles/terrausd-crash-led-to-vanished-savings-shattered-dreams-11653649201?mod=e2tw
TerraUSD Crash Led to Vanished Savings, Shattered Dreams
Investors swept up in the mania for the high-yielding stablecoin thought it would be safe

Afford loses and don't hope too high with any result or compensation from legal actions.

They already lost capital and should accept it, keep moving. If they keep their hope very high because there are efforts to sue attackers or Terra team, they will not ready to work, learn from mistake and restart a new chapter in their lives. What will happen if legal action ends with nothing, no compensation at all, they will fall into hell of disappointment again.

Don't let your pain last too long, accept it and keep going.

Agree, always keep in mind that there is always risk in every investment, even if we invest in no.1 cryptocurrency, bitcoin.
Maybe some people have invested their money in LUNA too much, so they don't mind to pay any legal firms and doing some legal actions.
I personally won't using my money more than i can afford to lose.

Terra doesn't have the money to make amends.

https://twitter.com/unifiedh/status/1538825838279663617?
"stop asking me why i couldn't make it to NYC frens, this is why: the Korean government imposed an exit ban for all ex-
@terra_money  employees today"

But many TERRA employees are not in Korea.

I would guess that they are just trying to stall the situation, they do not want to get into jail, and they do not want to be found guilty and sued for a lot of money which they can't pay back, what happened just happened and they are going to have to face that fact already.

I know it is not an easy thing to say and I know it will take time for them to realize this but at the end of the day if they can't accept this, and go to the court and defend themselves then they are going to be charged with something when they are not there anyway. Avoiding it doesn't make it go away, these people and mainly Do Kwon will be charged with breaking certain laws and that may have bad repercussions for the long run for sure.

I agree that the litigation will be long and that these are different processes in different countries. If terra loses the trial in the US, then the team will be closed to business opportunities in many countries. But this will not return losses to Terra holders and their stablecoin holders.

If ever, I think Do Kwon should have the heaviest punishment.  He is the head of the project anyway.  He is the one making a decision and calling shots during the Terra incidents.  The increase in daily emission is one of the biggest mistakes of Terra and the forking of the chain simply tells that they don't care about people who, even though with profit in the head, support and put demand order on terra when its price is crashing.   
Also, I don't think that regular employees should be charged with anything, besides they are just working and have nothing to do with the poor decisions and other possible fraud done by Terra founders.

In my perspective

Let's give this is on "Korea Government" since he also facing got a legal action from them, and he needs to face that from the official government of his country. I still wondering, the asset of treasure money from Luna/UST is only Crypto Asset?

Or there has some other asset like USDT Treasure while they spread not only by money.