Terraform opens claims portal for TerraUSD losses

Terraform Labs has announced the launch of its Crypto Loss Claims Portal, allowing creditors to seek compensation for losses incurred during the collapse of TerraUSD (CRYPTO:UST).  

The portal will open on March 31, 2025, and creditors must register and submit their claims by April 30, 2025, at 11:59 p.m. Eastern Time.  

Proof of ownership is mandatory for filing claims, with verification methods varying based on where assets were held.  

For holdings on the Terra ecosystem or supported networks, users can sign blockchain transactions directly through the portal at no cost.  

Those with assets on other platforms must provide read-only API keys or manual evidence such as transaction logs or account statements.  

Manual submissions may face delays or risk disallowance if preferred evidence is available but not provided.  

Once proof of ownership is established, creditors must complete the Crypto Loss Claim Form, disclosing all relevant details about purchases, holdings, and transactions.  

Late submissions will not be considered, and failure to meet the deadline will result in forfeiture of potential recovery.  

Terraform Labs stated that additional details about eligible cryptocurrencies and claim procedures will be available upon the portal’s launch.  

The claims process is part of Terraform’s bankruptcy proceedings following its settlement with the SEC for $4.47 billion over allegations of securities fraud.  

This settlement aims to compensate affected investors while addressing regulatory concerns in the cryptocurrency sector.  

Terraform’s co-founder Do Kwon was extradited to the U.S. in December 2024 and faces multiple fraud charges related to TerraUSD’s collapse.  

The claims portal represents a significant step in resolving one of crypto’s most notorious failures and could set precedents for investor protection and corporate accountability in digital asset markets.  

Creditors are encouraged to file electronically to expedite reviews and maximize recovery opportunities.

At the time of reporting, the TerraUSD price was $0.01236.