Singapore court rules Terraform to pay over $3 million in compensation to UST investors

Singapore International Commercial Court has awarded over $3 million in total compensation to 40 claimants in the fraud case against Terraform Labs and its founder Do Kwon, which is related to the collapse of TerraUSD (UST). The second phase of the case involved a total of 275 investors, with the compensation amount calculated based on factors such as the amount of UST each claimant held and the duration of their holdings. The court ruled that the defendants had committed fraud in their relevant statements, and this judgment represents the second batch of rulings in the series of collective claims.