Terraform Labs launches compensation process for losses from Terra USD collapse

Terraform Labs Pte. Ltd. and Terraform Labs Limited, which are in the process of liquidation, announced the launch of a portal for filing claims for compensation for losses (Crypto Loss Claims) associated with the collapse of the Terra USD token and the subsequent bankruptcy of the company. This was announced in an official statement published on March 28, 2025.

Process details

The Crypto Loss Claims portal, operated by Kroll Restructuring Administration LLC, will open on March 31, 2025 at claims.terra.money. Creditors will be able to apply for compensation for losses associated with the purchase or investment in certain cryptocurrencies affected by the collapse of the Terra ecosystem. The application deadline is April 30, 2025 at 11:59 pm ET. Applications submitted after this date will not be accepted and creditors will lose their right to compensation.

Criteria and requirements

Lenders must submit applications through an online portal, providing proof of ownership of the affected assets. Supported cryptocurrencies (Eligible Loss Cryptocurrencies) are indicated in the list, which will be available from March 31 on the website restructuring.ra.kroll.com/Terraform. However, assets with liquidity of less than $100 or, for example, Luna 2.0 on Terra 2.0 are not eligible for compensation.

To confirm ownership, it is recommended to use read-only API keys, which will speed up the review process. Alternatively, manual evidence (transaction logs, statements, screenshots) can be provided, but this may result in longer review times and even rejection of the application if preferred evidence was available but not provided. Full criteria and procedures are available in the Crypto Loss Claim Procedures document on the Terraform litigation portal.

How to apply

1. Register on the claims.terra.money portal from March 31, 2025.
2. Confirm ownership of assets: sign the transaction via wallet (no commission) or provide an API key.
3. Fill out the Crypto Loss Claim Form, indicating all data on purchases, sales and other actions with assets.
4. Apply on April 30, 2025, 11:59 pm (ET).

What’s next

Once applications are submitted, Wind Down Trust will review them. Within 90 days after the deadline, creditors will receive a notice with a preliminary determination on the amount of compensation or a request for additional consideration. Creditors will have the opportunity to challenge the decision in accordance with the procedures. Non-disputed applications will receive payments on a prorated basis as quickly as possible.Support

For assistance with accessing the portal, you can contact Kroll at Terraforminfo@ra.kroll.com. Please direct questions about procedures to Terraform Wind Down Trust at TFL_CLC_Distributions@kirkland.com (mailto:_CLC_Distributions@kirkland.com). Lenders are advised to consult with an attorney to consider their individual situation.

News highlights:

• The Crypto Loss Claims portal will open on March 31, 2025 for filing claims for compensation for losses from the collapse of Terra USD.
• The deadline for submission is April 30, 2025, 11:59 pm (ET).
• Application without preferred evidence may be rejected.
• Payments will be made on a pro-rata basis after verification.

Disclaimer: The information provided in this article is for informational purposes only and does not constitute legal or investment advice. CryptoInside is not responsible for any losses associated with the use of this information.