Terraform Labs Initiates Process for Claiming Compensation
Terraform Labs (TFL), the company behind the collapsed Terra ecosystem, will open a portal for affected users to submit compensation claims starting March 31, 2025. The TFL Crypto Loss Claims Portal can be accessed at https://t.co/7YQvfQr76x. The deadline for claims submission is April 30, 2025, at 11:59 p.m. (Eastern time), with the process overseen by TFL's liquidators from Kroll.
Here is a guide on how to file a claim:
- Registration: Register on the portal before the deadline, providing personal information and email.
- Documentation: Gather proof of ownership for assets, API keys for holdings on third-party exchanges, and wallet details. Fill out the claim form with as much information as possible.
- Submission: Review details, submit claims before the deadline, and expect an initial compensation determination or a request for more evaluation within 90 days after the deadline.
It is vital to provide complete and accurate information and to verify one's identity. The liquidators will not accept claims for assets with a total market value below $100, and this restriction also applies to tokens issued under the Terra 2.0 initiative.
Of note, TFL has agreed to pay $4.47 billion to the U.S. Securities and Exchange Commission (SEC) to settle regulatory claims. Creditors are advised to use only official sources and avoid scams requesting payment to file claims.
- The registration process for the TFL Crypto Loss Claims Portal requires users to provide their personal information, email, and adhere to the deadline to submit claims in the finance industry, particularly with regards to the Terraform Labs business situation and the collapsed Terra ecosystem.
- In the technology sector, affected users may need proof of ownership for assets, API keys for their holdings on third-party exchanges, and wallet details to file a claim with Terraform Labs for their losses, as part of the review and evaluation process overseen by Kroll.
