Terraform Labs launches claims portal for creditors affected by TerraUSD collapse
The post Terraform Labs launches claims portal for creditors affected by TerraUSD collapse appeared on BitcoinEthereumNews.com.
Terraform Labs is opening a platform for creditors who were impacted by the crash of the TerraUSD token to file for their losses as the firm continues with the bankruptcy process. The Kroll Restructuring Administration will operate the Crypto Loss Claims Portal, which will be accessible on March 31, 2025, through claims.terra.money. Submissions to the portal will remain open until April 30, 2025. To submit a claim, creditors must sign up on the portal and upload documents proving that they legally own the coins received from the platform. Terraform Labs Creditors: The Crypto Loss Claims Portal is scheduled to open for submission of Crypto Loss Claims on March 31, 2025. Creditors may file Eligible Crypto Loss Claims at https://t.co/7YQvfQr76x. The deadline to file is April 30, 2025 at 11:59 p.m. (prevailing Eastern… — Terra 🌍 Powered by LUNA 🌕 (@terra_money) March 28, 2025 Claims will be made electronically, and there will be no fees for signing transactions related to the identified assets. Other holdings across other trading platforms will require a read-only API key or evidence such as transaction history or account statements. The announcement further noted that excluded assets, such as Luna 2.0 in Terra 2.0 and any other cryptocurrency with an on-chain volume under $100, will not be available as a claim. The claims portal will provide initial decisions or notifications of additional review within the 90-day time frame of the April 30th deadline. The Plan Administrator will consider the claims concerning the Eligible Loss Cryptocurrency score to determine the Plan benefits. Any lender must ensure that all necessary papers are submitted to avoid any rejections and delays. Terraform Labs settles lawsuit Terraform Labs faced legal challenges, such as a fraud ruling by the SEC in April, which led to losses of $40 billion to its investors. In its settlement with the…
Filed under: News - @ March 28, 2025 8:21 am