Terraform Labs’ Claims Portal: Your Chance to Reclaim Lost Crypto! 💸

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Ah, darlings! Gather ’round, for Terraform Labs has decided to throw open the doors to their claims portal, a veritable lifeboat for the unfortunate souls who found themselves adrift in the turbulent seas of the TerraUSD collapse. Yes, you heard it right! A chance to recover your losses after the grand spectacle of bankruptcy! 🎭

Mark your calendars, my dear creditors! The Crypto Loss Claims Portal will make its grand debut on March 31, 2025, at claims.terra.money. But do hurry, for you have until April 30, 2025, at the stroke of 11:59 p.m. ET to submit your claims and documents online. Tick-tock! ⏰

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 claims.terra.money. The deadline to file is April 30, 2025 at 11:59 p.m. (prevailing Eastern…

— Terra Powered by LUNA (@terra_money) March 28, 2025

Now, let’s talk eligibility, shall we? To file a claim, you must register on the portal and provide proof of ownership. For those lucky enough to have eligible crypto assets on the Terra Ecosystem or supported networks, a simple free transaction through the portal will suffice. For assets lounging about on other platforms, you might want to provide a read-only API key or, heaven forbid, submit manual proof like transaction logs and account statements. How quaint! 📜

The Plan Administrator, that benevolent overseer, will determine claim amounts based on your eligible loss cryptocurrency holdings. But beware! Assets with on-chain liquidity under $100 and certain holdings, like Luna 2.0 on Terra 2.0, are not invited to this soiree. For complete details, do refer to the Crypto Loss Claim Procedures. And remember, claims with manual evidence may take longer to review and could be denied if you have the preferred evidence (like API keys) but simply forgot to provide it. Oh, the drama! 🎭

Once you’ve submitted your claim, the Wind Down Trust will don its reviewing hat and verify your submission. Within 90 days of the claim deadline, you’ll receive a notification through the portal, either revealing your claim amount or informing you that more time is needed for review. You can then choose to accept or dispute the decision. Undisputed claims will be eligible for payments, distributed pro rata as soon as possible. How delightfully bureaucratic! 🏛️

In a twist worthy of a Shakespearean play, Terraform Labs received court approval to begin winding down under its bankruptcy plan after settling a lawsuit with the SEC. The company will pay a staggering $4.47 billion as part of the settlement after being found guilty of fraud in April, which led to a jaw-dropping $40 billion in investor losses. Bravo! 👏

And let us not forget our dear co-founder Do Kwon, whose assets, including those elusive PYTH tokens, will be used to help cover the penalties. Payments to the SEC will only be made after claims from Terraform’s liquidation process are settled. What a tangled web we weave! 🕸️

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2025-03-28 09:07