SINGAPORE – Do Kwon, the co-founder of fallen blockchain company Terraform Labs, has filed an appeal against a High Court decision to dismiss his claim for a partial refund of the amounts he paid for a $38.8 million penthouse. Kwon had made payments totalling $19.4 million to the vendor before he ultimately decided not to go ahead with the purchase of the unit at the Sculptura Ardmore condominium in Ardmore Park.He sought a High Court declaration that the forfeiture of the sum was invalid and unlawful.Kwon later narrowed down his claim to the return of two sums totalling $18.4 million, which were paid to the vendor before the option to purchase was exercised.Justice Philip Jeyaretnam had dismissed Kwon’s claim on Aug 26.On Oct 30, the judge issued written reasons, noting that Kwon had filed a notice of appeal on Sept 22 against his decision.The written decision did not link Kwon to the Singapore-based Terraform Labs or his other legal troubles.The cryptocurrencies developed by Terraform Labs, TerraUSD and Luna, crashed in May 2022, triggering a market meltdown. Read more