Terraform Labs Opens Claims Portal: File Your Crypto Loss Claim by April 30, 2025 – Here’s How

Sean Williams
Terraform Labs

Terraform Labs has launched a claims portal to assist creditors in recovering their losses following the collapse of TerraUSD (UST). The company, which filed for bankruptcy, announced on Friday that the Crypto Loss Claims Portal will officially open on March 31, 2025, at claims.terra.money. Creditors have until April 30, 2025, at 11:59 p.m. ET to submit their claims online.

Eligibility Criteria for Claims

To qualify, creditors must register on the portal and provide proof of ownership. For assets held on the Terra Ecosystem or supported networks, claimants must sign a free transaction through the portal. For holdings on external platforms, users are advised to submit a read-only API key or provide manual proof, such as transaction logs and account statements.

The Plan Administrator will assess claims based on eligible cryptocurrency holdings. However, some assets are excluded from reimbursement, including:

  • Crypto holdings with on-chain liquidity under $100
  • Luna 2.0 on Terra 2.0

Manual evidence claims may take longer to process and could face rejection if more verifiable forms of proof (e.g., API keys) are available but not provided.

What Happens After Filing?

Once a claim is submitted, the Wind Down Trust will review and verify it. Within 90 days of the deadline, claimants will receive a notification via the portal detailing their claim amount or an update if more time is required. Creditors can either accept or dispute the claim amount. Approved claims will be eligible for pro rata payments, which will be distributed as soon as possible.

Terraform Labs’ Bankruptcy and SEC Settlement

Terraform Labs received court approval in September 2024 to wind down under its bankruptcy plan, following a $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC). The company was found guilty of fraud in April 2024, which resulted in $40 billion in investor losses.

Co-founder Do Kwon’s assets, including PYTH tokens, will be liquidated to cover penalties. However, payments to the SEC will only be made after Terraform’s liquidation process concludes and creditor claims are settled.

Also Read: Do Kwon Pleads Not Guilty to Fraud Charges as Terraform Labs Co-Founder Faces US Trial

This claims process marks a critical step in compensating those affected by the TerraUSD collapse, offering victims a path to financial recovery.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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