The bankruptcy trustee of Terraform Labs has filed a lawsuit against Jane Street, accusing this market maker of using insider information from a private chat group called “Bryce's Secret” to manipulate the market ahead of the May 2022 collapse of Terra-Luna, which was valued at $40 billion. The lawsuit states that a wallet associated with Jane Street withdrew $85 million worth of TerraUSD from the liquidity pool just minutes after Terraform made secret withdrawals, disrupting the exchange rate stability and enabling the company to liquidate high-risk positions before the market crash. Jane Street claims the lawsuit is “baseless” and attributes the fraud to Terraform’s management.