Terraform Labs gives creditors a last opportunity – he claimed encryption losses by May 16!
If you lose encryption due to the collapse of Terra, there is still time to work. Terraform Labs has Extending the deadline for the victims To submit their claims for encryption losses through its official portal. With the new deadline set on May 16, 2025, thousands of affected users have additional time to collect documents and provide evidence of their loss.
Here’s everything you need to know.
The portal opens until May 16, 2025
Terraform Labs, the company that stands behind Terra USD Token and Luna Coin, is currently after a bankruptcy application. As part of this process, the online encryption loss portal has launched to allow users affected to submit claims for their encryption losses.
Earlier, the deadline for submitting claims was set on April 30. However, the company has now extended the deadline until May 16, 2025, at 11:59 pm East time, giving creditors more time to submit their claims and download the required documents.
Meanwhile, the fastest and most confident way to check your property is through favorite evidence, such as API keys for reading only of the main exchanges or portfolio investigations.
Hand evidence, such as screenshots or transactions, is allowed to be sent, but this method may lead to delay or even removal if the favorite evidence is available and not used.
Who is the qualification?
To be eligible, the claimants must have suffered losses from the cryptocurrencies listed underLoss of encrypted currenciesThese include the distinctive symbols that were part of the Terra’s ecosystem, but they exclude some holdings such as Luna 2.0 on Terra 2.0 or very low liquidity coins (less than $ 100).
However, a full list of qualified symbols is available on Krol official portal.
How and where to submit your demands?
Users can visit claim To make their claims. It is important to complete and send the request for the loss of encryption along with all the necessary documents before the deadline on May 16, 2025, at 11:59 pm East time. Any claims offered will not be accepted after this time.
What if you missed the deadline?
If you are a victim of Terra collapsing, this may be the best snapshot for you to recover the losses. However, the failure to submit a claim before May 16th means that you will lose your chance to recover any losses.
Make sure to visit the portal, read the claim procedures carefully, and provide your evidence as soon as possible.
