Terraform Labs Launches Claims Portal for Investor Losses on March 31
Terraform Labs will launch a claims portal on March 31 for investors to file losses related to the collapse of the Luna token and TerraUSD stablecoin. The portal, managed by Kroll, allows claims submission until April 30 at 11:59 p.m. ET.
- Late submissions will not be accepted.
- Eligible claims must relate to specific cryptocurrencies held during the Terra ecosystem's collapse.
- Assets with less than $100 in on-chain liquidity and certain others, like Terra 2.0's Luna, do not qualify.
- Proof of ownership is required, preferably through read-only API keys from exchanges.
- Claims will be reviewed within 90 days after the deadline, with approved claims eligible for pro rata distributions.
The Terra ecosystem collapsed in 2022, resulting in a market cap drop of LUNA from over $41 billion to $6 million within three days.