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Terraform Labs, Convicted of Fraud, Reportedly Agrees to Pay US$4.47B Fine to SEC
Terraform Labs reached a settlement with the U.S. Securities and Exchange Commission (SEC), in which the company agreed to pay a fine of US$4.47 billion, according to court filing ...
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Terraform Labs, Convicted of Fraud, Reportedly Agrees to Pay US$4.47B Fine to SEC
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Terraform Labs reached a settlement with the U.S. Securities and Exchange Commission (SEC), in which the company agreed to pay a fine of US$4.47 billion, according to court filing cited by Reuters.

Terraform Labs had earlier been convicted of defrauding cryptocurrency investors, who lost around US$40 billion when TerraUSD and Luna coins collapsed in May 2022.

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According to the report, the company filed for bankruptcy in January 2024 and it is believed that it is unlikely to pay the majority of the fine in the settlement, which will instead be treated as an unsecured debt in the liquidation of Terraform Labs.

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