The organization responsible for the failed Luna token and the TerraUSD stablecoin will launch a claims portal on March 31, enabling investors to report losses related to the company’s collapse and its subsequent bankruptcy.
This online platform, managed by claims administrator Kroll, is part of the court-supervised winding down process. Investors have until April 30 at 11:59 p.m. ET to submit their claims through claims.terra.money. Any late submissions will be disregarded, meaning that those who miss the deadline lose their right to any potential recovery, according to a recent announcement.
Claims must be associated with specific cryptocurrencies as detailed in the case documents and must have been held during the time frame of the Terra ecosystem’s collapse. Notably, assets with less than $100 in on-chain liquidity, along with certain others—including Luna from Terra 2.0—are not eligible.
Claimants will also need to provide proof of ownership. The recommended approach is to use read-only API keys from exchanges, which the administrator deems more reliable than screenshots or documents uploaded manually. It is stated that those relying on manual evidence may experience longer review times or risk having their claims denied outright.
Claims will undergo a review and verification process once filed. Initial decisions will be communicated within 90 days following the deadline, and approved claims will be eligible for pro rata distributions once all processing is completed.
The collapse of the Terra ecosystem in 2022 resulted in the most significant loss of wealth in just three days in the history of cryptocurrency, with LUNA’s market cap plummeting from over $41 billion to a mere $6 million during that timeframe.
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