Terraform Labs is set to open a Crypto Loss Claims Portal on March 31, 2025, for creditors affected by the TerraUSD (UST) collapse. Managed by Kroll Restructuring Administration, the portal will be accessible at claims.terra.money. Creditors must submit their claims with supporting documentation by April 30, 2025, at 11:59 p.m. ET.
Submission Process:
- Registration: Creditors need to register on the portal.
- Proof of Ownership: For eligible crypto assets held within the Terra ecosystem or supported networks, users must sign a transaction through the portal at no cost. For holdings on other platforms, a read-only API key or manual evidence such as transaction logs and account statements is required.
Eligibility Criteria:
Claims will be evaluated based on holdings of Eligible Loss Cryptocurrency. Assets with on-chain liquidity below $100 and certain other holdings, including Luna 2.0 on Terra 2.0, are ineligible.
Review Timeline:
Within 90 days of the claim deadline, creditors will receive an initial determination or notification of extended review through the portal.
This initiative follows Terraform Labs’ $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC) in June 2024, addressing fraud charges related to the UST collapse. citeturn0search3 Subsequently, the company announced its dissolution and plans to sell off its projects within the Terra ecosystem.
Creditors are encouraged to submit their claims promptly to expedite the review process and maximize potential recovery.
