The same group of plaintiffs, which includes pseudonymous Terra victim and researcher Fatman, has said it will also file suit against Terraform Labs, the entity that created a litany of apps – like the lending protocol Anchor – that used the LUNA and UST tokens. That possibility highlights one of the key underlying points in the Terra case: Despite leaning on the rhetoric of “decentralization,” Terra was tightly controlled by a small inner group. That could in and of itself become further grounds for claims of misrepresentation and fraud.
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