According to a Notice of Voluntary Dismissal submitted in U.S. District Court on January 9, Albright Capital has withdrawn its case against Terraform Labs and its founder Do Kwon.

Before it was dismissed, the complaint claimed that Do Kwon and Terraform Labs had run the stablecoin, UST, like a “Ponzi scheme,” in violation of the Racketeer Influenced and Corrupt Organizations Act (“RICO”).

It is noteworthy that the US Dollar Terra (UST), an algorithmic stablecoin, was created by Terraform Labs whose founder was Do Kwon. The Terra network, which featured LUNA as its native token, supported the stablecoin. When the stablecoin TerraUSD and its companion cryptocurrency, LUNA, plummeted following the May crash, it distressed many investors and caused well-known cryptocurrency lenders Celsius and Voyager to go bankrupt.

Reportedly, Do Kwon, has a Red Notice issued against him by Interpol and is wanted for the highest possible level of arrest and extradition was hiding out in Serbia.Meanwhile, more than 350 investors who collectively lost more than $57 million as a result of Terraform Labs’ TerraUSD collapse commenced a lawsuit against Kwon in Singapore in October.