The VC-funded app “Stablegains” is being sued for losing $42 million from 4,878 customers. They promised 15% APY and achieved this by putting all of their customers’ funds into the 20% APY Anchor Ponzi as UST.

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by POTATO_IN_MY_LOGIC

Thread of Stablegains talking about the UST depegging as it was happening.

Found via HN.

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