Terraform Labs Will Initiate Processing of Compensation Requests
Terraform Labs (TFL), the company responsible for the failed Terra ecosystem, will launch a portal on March 31, 2025, to accept compensation claims from affected users. This portal, known as the Crypto Loss Claims Portal, will be accessible at https://t.co/7YQvfQr76x. The deadline for filing claims is April 30, 2025, at 11:59 p.m. (Eastern Time).
The claims process will be overseen by TFL's liquidators from consultancy firm Kroll. To be eligible, clients of the bankrupt platform must:
- Register on the portal before the deadline.
- Provide proof of ownership of assets.
- Submit API keys (in read-only mode) for holdings on third-party exchanges or platforms.
- Complete the claim form with as much information as possible.
Once a claim is submitted, the Wind Down Trust will review and verify it. Creditors will receive a notification via the online portal within 90 days following the deadline, either with an initial compensation determination or a notice that more time is required for evaluation. TFL urges clients to provide complete and highly accurate information, as well as proper identity verification.
The liquidators will not accept claims for assets that have lost capitalization, i.e., those with a total market value of less than $100. This also applies to tokens issued under the Terra 2.0 initiative.
Notably, TFL has agreed to pay $4.47 billion to the U.S. Securities and Exchange Commission (SEC) to settle regulatory claims. To submit a claim for Terra ecosystem losses, gather all relevant documentation, including proof of your Terra-related losses and access the Terraform Labs Crypto Loss Claims Portal. Fill out the claim form accurately, providing all requested information, and follow the specific guidelines provided by TFL for submitting claims.
- In the process of claiming compensation for Terra ecosystem losses, individuals are advised to gather all necessary documents, such as proof of their Terra-related losses, and access the Terraform Labs Crypto Loss Claims Portal.
- As the claims process progresses, affected users must provide API keys in read-only mode for their holdings on third-party exchanges or platforms, demonstrating their involvement in the technology and finance sectors.
