PANews reported on April 24 that, according to Bloomberg, quantitative trading firm Jane Street Group has filed for the court to dismiss a lawsuit against it, which accuses it of using insider information to trade before the collapse of Terraform Labs' related cryptocurrencies. Jane Street denies the insider trading and market manipulation allegations, stating that the lawsuit aims to "squeeze cash from Jane Street to pay for the fraud committed by Terraform itself."

Jane Street stated that the plaintiffs failed to prove the company possessed inside information or traded accordingly, and that many of the trades cited were based on Terra's volatile "public market signals." Terraform administrators previously accused Jane Street of using non-public information to engage in front-running, precisely closing out hundreds of millions of dollars in potential exposure hours before the Terraform ecosystem collapsed. Terraform collapsed in May 2022, and its co-founder, Do Kwon, pleaded guilty last December and was sentenced to 15 years in prison.