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Luna Foundation Guard Currently Unable To Compensate Terra Holders Due To "Threatened Litigation"
Summary: Efforts to compensate Terra owners with Luna Foundation Guard assets have been delayed due to threats of legal action, the Luna Foundation Guard (LFG) tweeted on Friday. The group stated: “As mentioned, our goal is to distribute LFG’s remaining assets to those impacted by the depeg, smallest holders first. Unfortunately, due to ongoing and threatened ...
Efforts to compensate Terra owners with Luna Foundation Guard assets have been delayed due to threats of legal action, the Luna Foundation Guard (LFG) tweeted on Friday.
The group stated: “As mentioned, our goal is to distribute LFG’s remaining assets to those impacted by the depeg, smallest holders first. Unfortunately, due to ongoing and threatened litigation, distribution is not possible at this time. While these matters are outstanding, there can be no timeline established for resolution."
According to LFG’s self-reported data, the foundation’s current reserves total about $100 million, having previously pledged to give priority to compensating holders with the smallest positions.
Earlier this week, South Korea's foreign ministry announced that it would invalidate Terra founder Do Kwon's passport.
By Mary Liu
Tags: Do Kwon,LUNA,luna foundation guard
Link: Luna Foundation Guard Currently Unable To Compensate Terra Holders Due To "Threatened Litigation" [Copy]
