TechFlow reports that on March 28, according to The Block, Terraform Labs, the company behind TerraUSD and LUNA, announced it will launch a "crypto loss claims portal" on March 31, allowing creditors to submit claims. Previous reports indicate Terraform Labs expects to repay up to $500 million in bankruptcy distributions.
Eligible creditors must register and submit claims through the portal by April 30, 2025. Late submissions will not be accepted.
Creditors must provide proof of ownership of crypto assets, including wallet addresses for on-chain assets and read-only API keys for centralized exchange accounts. Claims submitted with "manual evidence," such as transaction records or account statements, may face longer review times.
According to Terraform Labs' restructuring plan, the company expects to repay creditors between $185 million and $442 million. The plan was approved last September by U.S. Bankruptcy Judge Brendan Shannon.
