This is it. This is how the Terraform Ecosystem collapsed.
SEC v. Terraform Court Filing, retrieved on February 16, 2023, is part of . You can jump to any part in this filing . This is part 30 of 38. HackerNoon’s Legal PDF Series here c. May 2022 Collapse of the Terraform Ecosystem 169. In May 2022, UST de-pegged from the U.S. dollar again. This time UST's price did not recover. Several factors contributed to the crash, including the sale of large amounts of UST by one or more sophisticated trading firms beginning on or about May 7, 2022.
A painter in Vermont invested $20,000 in UST set aside for his son's college education, but lost it all when the Terraform ecosystem collapsed. 172. Defendants still retain valuable proceeds from the Terraform ecosystem. Specifically, Defendants transferred over 10,000 Bitcoin from Terraform and Luna Foundation Guard crypto asset platform accounts to an un-hosted wallet, or "cold" wallet .
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