Terraform Labs will open its stablecoin loss claims portal on March 31. The company will compensate individuals who lost at least $100 due to the failure of the Terra ecosystem in 2022. The portal will allow creditors to submit claims for losses related to their investments in TerraUSD (UST) and related cryptocurrencies. Kroll Restructuring Administration LLC will host the web-based claims portal. Claimants must submit their forms and supporting evidence electronically at claims.terra.money.
The deadline for submission is April 30, 2025, at 11:59 p.m. ET. The plan administrator will calculate claim values based on the qualifying cryptocurrencies held. The system will reject claims submitted after the deadline, and late claimants will lose their chance at compensation. A list of qualifying cryptocurrencies will be available on the restructuring website as of March 31. Cryptocurrencies with on-chain liquidity of under $100, with some exceptions, like Luna 2.0 on Terra 2.0, will not qualify. Claimants must read the Crypto Loss Claim Procedures for full details.
Stablecoin claims its ownership and filing
Claimants must provide proof of ownership. Wallet holders on the Terra network or other supported chains must sign a transaction through the portal. Those with funds on exchanges must supply a read-only API key. Manual proof, such as transaction logs and screenshots, can slow down the review and can lead to disqualification in case preferred proof is available but not provided.
To file a claim, users must register on the online portal, upload proof of ownership, complete the claim form, and submit it by the deadline. The Wind Down Trust will thereafter validate claims upon submission. The creditors will receive notice of initial claim determinations within 90 days after the deadline. They may accept or dispute the assessment. The accepted claims will qualify for pro-rata distributions.
Terraform payouts require ID verification
Claimants must provide accurate and complete information. Failure to disclose all material transactions may lead to disqualification. Identification is required for entitlement to payment. For information, creditors can contact Kroll Restructuring Administration or the advisors to the Terraform Wind Down Trust. Any specific issues should be directed to a lawyer.
Additional information, including court filings and news, is available on the official restructuring websites. Terraform Labs’ claims process is a significant milestone in addressing financial losses from the failure of the Terra ecosystem.
