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Cryptocurrencies

Terms of failed 'stablecoins' tell investors to seek redress in Singapore

For holders of Do Kwon's Terra and Luna, crash offers bitter lesson on crypto risks

In the U.S., a class action complaint has been brought against Do Kwon, his company and the founder's associates on behalf of people who purchased Terra’s digital tokens in May.   © Reuters

SINGAPORE -- Investors in the fallen cryptocurrency Luna, now known as Luna Classic, could be in for a difficult time making the so-called stablecoin's founder, Do Kwon, accountable for their losses.

He is the target of legal action -- also aimed at his company, Singapore-registered Terraform Labs -- from a group of investors in his native South Korea.

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