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Terraform Labs Sues Jane Street for Insider Trading in $40B Terra-Luna Crash
A former Terraform intern allegedly created a secret chat called "Bryce's Secret" to leak nonpublic info to Jane Street.
Minutes after Terraform withdrew $150M UST from Curve3pool. A Jane Street-linked wallet pulled $85M UST before it went public.
These trades allegedly accelerated the crash while Jane Street escaped massive losses.
Jane Street co-founder + 2 employees named as defendants. A separate $4B claim also filed against Jump Trading.
Jane Street denies everything.
Do Kwon is currently serving 15 years in prison.
This case could redefine insider trading rules in crypto forever.