Is Terraform Labs (Terra / Luna / UST) a scam?
Algorithmic stablecoin (UST) paired with the LUNA token. The peg failed in May 2022, wiping out approximately $60B in market value within a week. The collapse triggered cascading failures across crypto lenders and hedge funds (Celsius, 3AC, Voyager).
| Status | prosecuted |
|---|---|
| Category | algorithmic-stablecoin |
| First observed | 2018-01-01 |
| Collapsed | 2022-05-09 |
| Reported victims | 280,000 |
| Estimated losses | $45,000,000,000 |
Also known as
TerraUSD, UST, LUNA, Terraform Labs, TFL, Anchor Protocol