Terraform Labs Sets March 31 Launch for Crypto Loss Claims Portal

CN
2 days ago

According to Terraform Labs, the portal, managed by Kroll Restructuring Administration LLC, marks a critical step in the wind-down of Terraform’s bankrupt estates. Creditors must submit claims by April 30, 2025, at 11:59 p.m. ET, or forfeit recovery eligibility. Claims will cover losses linked to specific cryptocurrencies affected by terrausd’s (UST) implosion, though Luna 2.0 holdings and tokens with under $100 in onchain liquidity are excluded.

A full list of eligible assets will be published on Kroll’s restructuring portal when the claims process begins. The process prioritizes “Preferred Evidence,” such as read-only API keys from exchanges, to expedite verification. Submissions relying on “Manual Evidence” — including screenshots or transaction logs — face prolonged reviews and potential disallowance if Preferred Evidence is available.

Kroll warned such claims may require individualized assessments, delaying determinations. After filing, creditors will receive an initial claim determination within 90 days of the deadline or a notice of extended review. Disputes can be raised under the procedures outlined in the Crypto Loss Claim Terms. Approved claims will receive pro-rata distributions, contingent on identity verification.

Terraform’s 2022 collapse erased an estimated $45 billion from its ecosystem, including $28 billion in decentralized applications (dapps) like Anchor, and triggered a broader crypto market crash costing an estimated $300 billion. The fallout led to bankruptcies at firms like Celsius and Voyager and intensified global regulatory scrutiny of stablecoins.

免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

ad
HTX:注册并领取8400元新人礼
Ad
Share To
APP

X

Telegram

Facebook

Reddit

CopyLink