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I believe this case will be historic, and I believe combining our research with legal discovery will lead to the most shocking court battle in all of crypto history. Law firms seem to agree - I am in talks with a select few and we will release more information soon. (11/17)
I am happy to announce that three law firms have offered to commit over $15m (maybe more) to this historic fight for justice - they are looking to fund the case and will collect fees on a contingency basis. This could never have happened without all of you. (12/17)
I'm currently brokering the best deal possible for UST victims within our class of retail investors - right now, the haircut range is expensive (a traditional cut going to lawyers), but optimistically this should come down - I'm verifying claim data and working hard BTS. (13/17)
The best part of all? This action will be free for our class of victims to join. They pay nothing upfront & nothing if we lose - if we win, they are given their UST debt (minus legal fees) straight into their pocket. Contingency, although expensive, is quite neat. (14/17)
In jurisdictions like Singapore where contingency is less prevalent, we are also in touch with litigation funders interested in helping out in a similar manner, and I'm working on ironing out non-predatory terms that best represent victims' interests. (15/17)
Overall, I'm very pleased that things have played out this way. Even though the initial DAO pitched to me did not involve me being on the multisig (of my own volition), once my account became this popular, I realized that a 0.05% risk-of-rug was 0.05% too high. (16/17)
At stakes this high, things need to be watertight, so I'm overjoyed that everything is now moving to a secure structure that's risk-free backed by some of the best legal minds and law firms on the planet. What happens next is going to be really exciting. Stay tuned. (17/17)
Will this lawsuit include ust holders who sold out for losses?
Could you not put Luna victms in your thought as well? And thank you for the effort you are putting to bring things out to light.
They are looking to get rich. And the result will be years and years of litigation and this will bring all manner of hell regulation upon the crypto industry. F this. Drop the suit and recognize that you invested in a highly-risky asset - knowingly and as an adult.
You could have invested in anything. Bonds, stocks, meme stocks, property, Bitcoin, Ethereum. But no; you knowingly chose a hyper-risky alt-coin promising massive gains. You played Russian roulette, hoping to get rich. That’s all fine. But it didn’t work out and now you want…
@FatManTerra could you give us any fee figures we should be thinking about?
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