{"id":446091,"date":"2025-03-28T16:28:31","date_gmt":"2025-03-28T15:28:31","guid":{"rendered":"https:\/\/thecoinacademy.co\/news\/terraform-labs-opens-claims-portal-for-creditors\/"},"modified":"2025-03-28T16:28:40","modified_gmt":"2025-03-28T15:28:40","slug":"terraform-labs-opens-claims-portal-for-creditors","status":"publish","type":"post","link":"https:\/\/thecoinacademy.co\/news\/terraform-labs-opens-claims-portal-for-creditors\/","title":{"rendered":"Terraform Labs Opens Claims Portal for Creditors"},"content":{"rendered":"<p><strong>Terraform Labs<\/strong>, the company behind the <strong>LUNA<\/strong> project and the algorithmic stablecoin <strong>TerraUSD<\/strong> (UST), is finally opening the door to compensations. After filing for bankruptcy under Chapter 11 in January 2024, the company will officially launch its Claims Portal on March 31. This announcement has been highly anticipated by the thousands of creditors impacted by the protocol collapse in May 2022, which wiped out tens of billions of dollars in crypto market value.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Cryptocurrencies with on-chain liquidity of less than $100, as well as certain other exclusions (e.g. Luna 2.0 holdings on Terra 2.0), are not eligible.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\" id=\"h-une-procedure-stricte-et-des-preuves-a-fournir\"><span id=\"a-strict-procedure-and-evidence-to-provide\"><span id=\"une-procedure-stricte-et-des-preuves-a-fournir\">A Strict Procedure and Evidence to Provide<\/span><\/span><\/h2>\n<p>Creditors with funds on Terra or centralized platforms must register their claims through the Crypto Loss Claims Portal by April 30, 2025. After this deadline, no recourse will be possible.<\/p>\n<p>The process requires the provision of proof of ownership: signed wallets for self-hosted assets or read-only API keys for assets deposited on exchanges. For more complex cases, such as losses from intermediate transactions, Terraform will also accept account statements or transaction histories as &#8216;manual proofs&#8217;. However, these documents will significantly lengthen the processing times. Any claim including manual elements will be subject to individual review, with no guarantee of immediate eligibility for partial reimbursement.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Visit claims.terra.money starting on March 31, 2025 to register.<\/p>\n<\/blockquote>\n<h3 class=\"wp-block-heading\" id=\"h-jusqu-a-500-millions-de-dollars-redistribues\"><span id=\"up-to-500-million-redistributed\"><span id=\"jusqua-500-millions-de-dollars-redistribues\">Up to $500 Million Redistributed<\/span><\/span><\/h3>\n<p>According to the latest estimates, between $185 and $442 million could be distributed to creditors as part of this restructuring plan. This amount was approved by US judge Brendan Shannon when he approved the plan last September. Compared to the total losses suffered during the Terra crash, this fund is modest but represents a tangible hope for the most affected investors.<\/p>\n<p>The $500 million figure mentioned by some analysts is contingent on the evolution of the company&#8217;s remaining assets and the effective validation of submitted claims. This process follows in the wake of the record settlement signed with the SEC: a $4.47 billion settlement for implementing fraudulent practices, including false promises about the stability of UST. However, the US regulator is not expected to receive any payment, having agreed that funds should be primarily allocated to the creditors.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-terra-luna-un-symbole-de-la-derive-dun-ecosysteme\"><span id=\"terra-luna-a-symbol-of-ecosystem-deviation\"><span id=\"terra-luna-un-symbole-de-la-derive-dun-ecosysteme\">Terra \/ LUNA: A Symbol of Ecosystem Deviation<\/span><\/span><\/h2>\n<p>The Terraform Labs case will remain emblematic of the excesses of the crypto euphoria of 2021-2022: unrealistic return promises, uncontrolled financial engineering, and opacity in risk management. More than two years after the collapse, the legal process is far from over, but this portal represents a first step towards some form of compensation for affected investors.<\/p>\n<p>The countdown has begun.<\/p>\n","protected":false},"excerpt":{"rendered":"Terraform Labs, the company behind the LUNA project and the algorithmic stablecoin TerraUSD (UST), is finally opening the&hellip;\n","protected":false},"author":8,"featured_media":446093,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","original_i18n_url":"https:\/\/coinacademy.fr\/actu\/luna-terraform-creanciers-crypto-declarer-pertes-30-avril\/"},"categories":[139,151],"tags":[],"coauthors":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Terraform Labs Opens Claims Portal for Creditors - 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