| Founded | 2018 |
|---|---|
| Closed | 2022 |
| Country | South Korea |
| Sector | Crypto |
| Total raised | $207M (Arrington Capital, Galaxy Digital, 2018–2022) |
| Collapse type | Sudden Collapse |
| Founder | Do Kwon |
TerraForm Labs / LUNA
"$60 billion evaporated in seventy-two hours when an algorithmic stablecoin's peg broke—and its founder allegedly knew it could."
Unexpected shutdown within weeks of a trigger
Key Events Timeline
TerraForm Labs built the Terra blockchain ecosystem around UST, an algorithmic stablecoin backed not by cash but by LUNA tokens.
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