Terraform Labs, responsible for the Luna token and TerraUSD stablecoin, will launch a claims portal on March 31. This portal, managed by Kroll, enables investors to submit claims for losses due to the company’s collapse and bankruptcy. The deadline for submissions is April 30 at 11:59 p.m. ET. Claims submitted after this date will not be considered. Eligible claims must relate to specific cryptocurrencies held during the Terra ecosystem’s collapse, excluding assets with less than $100 in on-chain liquidity and certain others like Terra 2.0’s Luna. Claimants need to provide proof of ownership, preferably through read-only API keys from exchanges, as these are deemed more reliable than screenshots or manual uploads. Manual evidence may lead to longer review times or claim denials. Claims will be reviewed and verified, with initial decisions communicated within 90 days post-deadline. Approved claims will qualify for pro rata distributions. The Terra ecosystem’s collapse in 2022 resulted in Luna’s market capitalization dropping from over $41 billion to $6 million in just three days.
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