Attention LUNA/UST community! Terraform Labs has launched a loss declaration platform, deadline is May 16.

Terra Collapse Update: Users Can Finally Declare Losses

Terraform Labs Pte. Ltd. and Terraform Labs Limited (hereinafter collectively referred to as "Debtors") are currently undergoing a liquidation process of company assets. As part of the liquidation, they have officially launched the Crypto Loss Claims Portal, allowing investors to file claims for cryptocurrency losses caused by the collapse of TerraUSD (UST) and its subsequent effects, with the opportunity to receive future compensation.

Official declaration portal opens on March 31

This claims platform is managed by Kroll Restructuring Administration LLC (Kroll) and will officially open on March 31, 2025. The claims submission website is: claims.terra.money. All claimants must submit a Crypto Loss Claim Form and all relevant supporting documents through this platform.

Important deadline: May 16, 2025

All declarations must be completed by 11:59 PM (Eastern Time) on May 16, 2025. Late submissions will not be accepted, and creditors who miss this deadline will forfeit any potential compensation eligibility.

Who qualifies for reporting?

For specific declaration eligibility, please refer to Court Document No. 965 (Crypto Loss Claim Procedures), which details the list of "claimable loss crypto assets". This list will be updated on the Kroll official website on March 31, 2025. It is worth noting that:

Assets valued at less than 100 USD and with insufficient on-chain liquidity do not qualify.

Luna 2.0 on Terra 2.0 is also excluded.

How to prepare the declaration data? The first choice is "immutable evidence".

Creditors must provide evidence of their holdings of "reportable cryptocurrency assets." The evidence is divided into two categories:

Preferred Evidence:

Including read-only API keys and other information can be obtained directly from major exchanges.

Data cannot be tampered with, recognition speed is fast, and the success rate is high.

Alternative Evidence (Manual Evidence):

including transaction records, screenshots, account statements, etc.

The review process is cumbersome, and if the preferred evidence is obtainable but you choose not to provide it, the authorities may reject your declaration.

Four Steps of the Declaration Process

Register an account: Register at claims.terra.money from March 31, 2025.

Proof of asset ownership: On the Terra blockchain, users can sign transactions with their wallets, while other platforms recommend providing read-only API keys.

Fill out the declaration form: List in detail all related operations such as buying, holding, selling, exchanging, and staking.

Submit materials: Be sure to complete before the deadline of May 16, 2025.

Review and Follow-up Procedures

All claims will be reviewed by the Wind Down Trust. After the review is completed, users will receive a preliminary determination notice within 90 days. At that time, creditors may accept the results or raise objections according to the process. Claims confirmed without objections will enter the distribution process as soon as possible, with compensation distributed on a pro-rata basis.

Terra Claims Reporting Notes and Contact Information

Be sure to provide accurate information. Failure to declare all relevant transactions (such as staking and exchanges) may result in the declaration being rejected.

Identity verification is a necessary condition to receive compensation.

For assistance, you can contact the following unit:

Kroll: Terraforminfo@ra.kroll.com

Liquidation Trust Advisory Team: TFL_CLC_Distributions@kirkland.com

Note: Kroll and the trust team do not provide legal advice, and creditors are advised to consult a professional attorney.

For more information, please refer to: Terraform case documentation page or the website of the Bankruptcy Court of Delaware.

Attention LUNA/UST community! Terraform Labs has launched a loss reporting platform, with a deadline of May 16. First appeared in Chain News ABMedia.