Cryptocurrency

"Terraform's Legal Team Quits Amid Terra Stablecoin Fallout"

2022-05-17 [vendor] Terraform Labs' legal team resigns [chain] terra
Primary Source ↗
Blockchain(s) Terra

Incident Details

In what seems like a bad sign for Terraform Labs, the developer of the Terra blockchain and the TerraUSD (UST) and Luna cryptocurrencies, the three members of the company’s legal team left the company. This came shortly after UST, Luna, and the entire Terra ecosystem dramatically collapsed after the stablecoin lost its peg last week.

Technical Details

Initial Attack Vector
Regulatory / legal action
Vendor / Product
Terraform Labs' legal team resigns

Timeline

  1. 2022-05-17 Breach occurred
  2. 2022-05-17 Publicly disclosed