Terraform Labs Sets Deadline for Crypto Loss Claims
Terraform Labs, the company behind the collapsed Terra blockchain (LUNA/LUNC, UST), has set a hard deadline for filing crypto loss claims. Creditors must submit claims through TFL’s Wind Down Trust portal by May 16, 2025, at 11:59 p.m. Eastern Time.
TFL stressed this is one of the last chances for victims of the Terra ecosystem crash to seek potential financial recovery through the official process. Late submissions will not be accepted under any circumstances.
What is the Claims Process & Who Administers It?
The Crypto Loss Claims Portal, live since March 31, 2025, is key to TFL’s structured wind-down.
Administered by Kroll Restructuring Administration LLC, the portal allows affected users to electronically submit claims for losses incurred. The May 16 deadline now provides extended time for users to gather the necessary documentation.
Terraform Labs emphasized the finality of this date, warning that late submissions will not be accepted under any circumstances.
The message is clear: if you were affected by the Terra collapse and wish to recover any part of your losses, you must act before the deadline.
Who Is Eligible to File a Terra Loss Claim?
Eligibility is strictly defined. Claims are only considered for losses on certain original Terra ecosystem assets, known as “Eligible Loss Cryptocurrencies.” Importantly, this excludes Luna 2.0 (on the Terra 2.0 chain) and any assets with minimal on-chain liquidity (under $100).
A full list of eligible assets is available under “Schedule I” on the Kroll portal at restructuring.ra.kroll.com/Terraform.
How Do Victims File a Claim Before the Deadline?
Claimants must follow these key steps before the May 16 deadline:
- Register: Signup on the official portal at claims.terra.money.
- Verify Ownership:
- A signed transaction from a supported wallet (for assets on the Terra ecosystem or other supported blockchains), or,
- A read-only API key from a major exchange, which Terraform strongly prefers due to its reliability and resistance to manipulation.
- Submit Form: Fill out the Crypto Loss Claim Form, detailing transactions, holdings, and actions like swaps or staking.
- Provide documentation: Use the preferred API-based verification. Or, if necessary, manual evidence like screenshots or transaction logs (though these may lead to delays or even rejection).
Submit before the final deadline of May 16, 2025, 11:59 p.m. ET.
What Happens After Filing a Terra Claim? (Evidence & Review)
The Plan Administrator heavily prioritizes claims verified using the Preferred Evidence (API keys) due to its authenticity and ease of verification.
Manual submissions face slower reviews but may also be partially or fully disallowed if API-based data was available and not used. Creditors submitting only screenshots or logs should expect a longer review and potential disputes regarding claim validity.
After the May 16 deadline, the Wind Down Trust will review each submitted claim. Creditors should receive notice of the initial determination of their claim’s value within 90 days.
If they agree, they will be queued for pro-rata distributions. If not, they may initiate a dispute resolution process as outlined in the official Crypto Loss Claims Procedures. All distributions will be subject to identity verification and other required compliance checks.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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