Following the collapse of the Terra ecosystem and its tokens TerraUSD and Luna, affected Korean investors have filed both criminal and civil lawsuits against the project's creator, Do Kwon. Represented by RKB & Partners, the lawsuit seeks to seize Kwon's assets and pursue fraud charges.
Another Korean group, calling themselves "Victims of Luna, UST coins", has amassed 1,500 members and reportedly plans to file a lawsuit against Kwon and Terraform Labs' other cofounder, Shin Hyun-Seong (who is also known as Daniel Shin, and is no longer with Terraform Labs).
This development may be particularly inconvenient for Kwon and Shin, given Terra's legal team quit the company the previous day.
On June 17, another investor filed a separate lawsuit against Terraform Labs, Kwon, and various others in a US court.