Singapore’s International Commercial Court has issued a second tranche ruling in an investor fraud case linked to the collapse of TerraUSD (UST), finding crypto firm Terraform Labs and its founder, Do Kwon, committed fraud and awarding damages to some plaintiffs. According to Foresight News, Bloomberg reported that the court ordered compensation for 40 of the 275 plaintiffs, with total damages exceeding $3 million.

The court calculated compensation amounts partly based on each plaintiff’s UST holdings and the period during which they held the token.