Overview
- Terraform’s court-appointed administrator filed a heavily redacted civil suit in Manhattan federal court on Feb. 24, naming Jane Street, co-founder Robert Granieri, and traders Bryce Pratt and Michael Huang.
- The complaint ties on-chain moves to alleged misuse of non-public information, citing Terraform’s 150 million UST withdrawal from Curve’s 3pool and an 85 million UST swap by a Jane Street–linked wallet within minutes.
- Snyder alleges informal private chats and contacts, including channels re-opened by former Terraform intern Bryce Pratt, funneled confidential liquidity plans to Jane Street’s crypto desk.
- Jane Street called the claims a desperate, baseless attempt to extract money and asserted losses stemmed from fraud by Terraform’s management.
- The suit seeks damages, disgorgement, and interest before a jury, adding to broader recovery efforts after a roughly $40 billion wipeout and following a separate December action against Jump Trading and prior prosecutor reviews of rescue-chat communications.