Singapore Court Awards Terraform Investors Over $3M

• Singapore’s SICC awarded over $3 million to 40 claimants in the Terraform and Do Kwon UST fraud case.
• The court ruled Terraform and Do Kwon made fraudulent UST stability claims before the 2022 collapse.
• The ruling sets a precedent for crypto damages, strengthening accountability in digital asset disputes.

On June 29, 2026, the Singapore International Commercial Court (SICC) awarded more than $3 million in damages to 40 claimants after finding Terraform Labs Pte Ltd and its founder, Do Kwon, liable for fraudulent misrepresentations related to TerraUSD (UST). The ruling concludes the second tranche of a fraud case involving 275 investors over the 2022 TerraUSD collapse.

Singapore Court Awards $3M in Terraform UST Fraud Case

According to sources, the SICC has awarded over $3 million in damages to 40 claimants against cryptocurrency firm Terraform Labs Pte Ltd and i…

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