The US Securities and Exchange Commission (SEC) has put forward new documents regarding Terraform Labs in the commercial court.
According to the statement made by the SEC, Terraform Labs sent a large amount of money to Dentons US LLC, from which it received legal consultancy services.
Dentons Advance Payment Retainer by Terraform Labs $166 million sent, 122 million dollars of this part of Terraform before filing for bankruptcy. Transferred within 90 days specified.
According to the SEC’s allegations, Terraform remove from company account and in the future To use it in the “war” with the SEC sent for.
Money sent to Dentons More than half have already been used is still in the account $81 million It was announced that he remained. According to the SEC’s claim, Dentons will be able to legally hold Terraform Labs unless it returns this money. should not be able to represent.
TerraUSD and Luna coins, developed by Terraform Labs, crashed in May 2022. The company filed for bankruptcy on January 21, and the value of its assets and liabilities 100 to 500 million dollars He declared that he was among them.