Following the collapse of Terra USD and Luna and the bankruptcy filing of Terraform Labs, affected investors now have the opportunity to file claims for compensation. The deadline for submission has been extended to May 16, 2025.
Who Can File Claims?
Investors who invested in Terra’s cryptocurrencies, particularly Terra USD or Luna, and lost money when the tokens collapsed are eligible to file a claim. However, not all cryptocurrencies qualify. Cryptos with less than $100 in on-chain liquidity and certain other exclusions will not qualify.
Required Documents for Filing Claims
When submitting your claim, you’ll need to provide proof of ownership. Preferred Evidence, like API keys from exchanges, is the best option, as it’s the quickest and most reliable way to process your claim. If you don’t have API keys, you can submit Manual Evidence, such as transaction logs or screenshots, but it will take longer to verify.
What Happens After Submission?
Once your claim is submitted, it will be reviewed by the Wind Down Trust. Within 90 days, you'll receive an initial determination of your claim amount. If all goes well, you can accept or dispute this amount. Undisputed claims will be processed and eligible for disbursement. Disbursements will be made on a pro-rata basis, meaning everyone gets a fair share depending on their loss.
Affected investors now have the chance to recover some of their losses by filing claims before May 16, 2025. However, applicants must ensure that their crypto holdings meet the requirements.
