The post Terraform Labs Launches Online Claims Portal for Creditors to file for funds recovery appeared on BitcoinEthereumNews.com.

Terraform Labs’ Crypto Loss Claims Portal opens on March 31, 2025, and closes on April 30, 2025.  Creditors must submit proof of ownership; manual evidence may slow review or risk rejection. Terraform Labs is finally giving creditors a way to recover their lost funds from the TerraUSD (UST) collapse. The company will be launching Crypto Loss Claims Portal, to administer the funds recovery process. The announcement was made via TerraFormofficial X handle in a recent post. The crypto Loss Claims portal will be  managed by Kroll Restructuring Administration, will be open from March 31, 2025, to April 30, 2025, allows creditors to submit their claims electronically Creditors must submit their claims through the official portal at claims.terra.money before April 30, 2025, at 11:59 p.m. ET. Also, they need to provide proof of ownership, which depends on where their assets were stored. If the funds were stored on the Terra Ecosystem, they’ll only need to  sign a transaction through the portal—no cost involved. But If creditors’ funds were on other platforms, they’ll have to submit extra documentation, a read-only API key or manual proof like transaction logs or account statements will be enough. Terraform Labs further issues warnings to creditors that using manual proof instead of API keys could eventually lead to a prolonged process, and their claims might get rejected since there are other alternatives verification methods readily available. Not all assets qualify for claims. Crypto holdings with less than $100 in on-chain liquidity and Luna 2.0 tokens on Terra 2.0 are excluded. The Plan Administrator will determine final claim amounts based on eligible holdings. After the April 30 deadline, Terraform Labs’ Wind Down Trust will review submissions, and creditors will receive updates within 90 days. Approved claims will be paid out on a pro-rata basis. Terraform Labs has stressed…

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Filed under: News - @ March 28, 2025 4:22 pm