Karak denies Terra Classic community accusation that he stole 200 million USTC

Golden Finance reported that members of the Terra Classic community accused Andalusia Labs, the company behind the re-staking agreement Karak, of stealing 200 million USTC tokens (worth about $7 million at the time) from the Terra ecosystem a few months after the Terra ecosystem collapsed in 2022. Terra Classic voted to return the funds used to insure UST through Ozone, and recovered 800 million of the USTC controlled by the Terra community multi-signature wallet. However, Karak denied stealing the tokens and responded that the tokens were "granted" by the Terra Foundation, and no user funds were involved. It did not recognize the proposal to return the tokens. Andalusia Labs, the parent company behind Karak, completed a $48 million financing in December last year with a valuation of more than $1 billion.