Crypto world News on Terra – Case against UST

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Last Updated on August 15, 2022 by kumar Dayanand

Case against UST 

crypto world News on Terra : a criminal case is being filed against the creators of the UST stablecoin for organizing a financial pyramid scheme.

Terraform Labs, which paid 20% per annum in bucks on Anchor Protocol, is suspected of being a classic Ponzi scheme.

The investigation began after it emerged that the founders had decided to shut the firm down at a shareholders meeting back on April 30. A few days before the drop of the coin itself.

I’m not calling Terra a pyramid scheme. Let the courts sort it out.

But let’s face it: on our fanatical belief in DeFi, of course, scammers can easily play on it, because 20% p.a. doesn’t seem like something unimaginable in the crypto world.

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