According to Lianhe Zaobao, Do Kwon, co-founder of the defunct blockchain company Terraform Labs, had his claim for approximately 50% of the purchase price for a penthouse on Orchard Road in Singapore dismissed by the Singapore High Court. Five months before the collapse of his cryptocurrencies, TerraUSD and Luna, in 2022, Do Kwon had set his sights on the Sculptura Ardmore condominium, valued at S$38.8 million. He selected a 7,600-square-foot, four-bedroom duplex penthouse on the 19th floor, one of only three available. Do Kwon paid approximately S$19.4 million in option fees and subsequent payments, almost half the purchase price. However, the purchase ultimately fell through, and the condominium was resold for S$34.5 million. Although the developer allegedly seized the money Do Kwon paid, he argued the seizure was invalid and authorized his wife to file a lawsuit in the Singapore High Court. Do Kwon’s application was rejected on July 26.