TerraForm Labs opens the port of claims for the victims Declare Friday.
The encryption losses portal opens on March 31, 2025, in Plays.terra.Money. The creditors until April 30, 2025, at 11:59 pm EST to submit their claims and documents online.
Civil standards
To submit a claim, the creditors need registration on the portal and show the proof of ownership. To obtain qualified encryption assets on the TERRA ecosystem or subsidized networks, users must sign free transaction through the gate. For other platform assets, creditors are recommended to provide API key for only reading or sending a manual guide such as transactions and account data.
The plan official will decide the claim amounts based on the ownership of the encrypted currencies. However, liquidity assets on the chain are less than $ 100 and some holdings, such as Luna 2.0 on Terra 2.0, are not eligible for claims. Creditors are advised to refer to the procedures for losing encryption for full details. It is worth noting that manual manual claims will take longer to review and may be rejected if the preferred evidence (such as API) is available but not provided.
The post -deposit process
After submitting a claim, Wind Download and verify it. Within 90 days of the deadline for the claim, the creditors will receive a notification via the portal either the amount of the claim or an update that requires more time for review. Creditors can accept or oppose the decision. The indisputable claims will be eligible for payments, which will be distributed to the Pro Rata as soon as possible.
In September, Terraform Labs obtained the court’s approval to start completing the bankruptcy plan after settling a lawsuit with SEC. The company will pay 4.47 billion dollars as part of the settlement after being convicted of fraud in April, which led to the losses of an investor of 40 billion dollars.
The assets of the co -founder de Coon, including the distinctive bitten symbols, will be used to help cover the sanctions. Payments will be made to SEC only after leveling claims from the TerraForm liquidation process.
