A group of investors has filed a lawsuit against Stablegains, the provider of the algorithmic stablecoin TerraUSD (UST).
The plaintiffs, Alec and Artin Ohanian, claim in their complaint that the now defunct platform transferred all assets invested by users to the Anchor protocol without their knowledge.
The latter offered a 20% return on UST investments. However, Stablegains only paid 15%.
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According to the statement, after the collapse of the algorithmic stablecoin, the platform transferred users' funds to the second iteration of Anchor without their consent.
In May last year, the protocol team announced the termination of services.
The plaintiffs have not indicated the compensation they wish to receive, leaving it to the court to determine.