In the wake of significant turbulence within the cryptocurrency landscape, particularly concerning the Terra USD token, we find ourselves at a pivotal moment for the Terra community. Terraform Labs Pte. Ltd. and Terraform Labs Limited (collectively referred to as “the Debtors”) are moving forward with the wind-down of their estates. At the heart of this transition is the impending launch of the Crypto Loss Claims Portal—a crucial mechanism for creditors to file claims for losses incurred due to their investments. If you're part of the Terra community, this guide aims to provide you with everything you need to understand as we approach this significant date.

Launching the Crypto Loss Claims Portal

We’re excited to announce that the Crypto Loss Claims Portal is set to launch on March 31, 2025. It will be hosted at claims.terra.money. This online portal, managed by Kroll Restructuring Administration LLC, will enable stakeholders to electronically submit Crypto Loss Claim Forms along with the necessary supporting documents.

Key Details About the Launch

• Portal Opening Date: March 31, 2025
• Submission Deadline: Claims must be filed by April 30, 2025, at 11:59 p.m. ET

It’s vital to keep in mind that any claims submitted after this deadline will be outright rejected, potentially leading to missed opportunities for recovery. It’s really a matter of “first come, first served,” so time management here could make a world of difference for claimants.

Understanding Eligibility Criteria

Before jumping into the claims process, we strongly recommend reviewing the Crypto Loss Claim Procedures. These guidelines outline specific eligibility requirements, which are detailed in Exhibit 1 of the Crypto Loss Claim Bar Date Order. You can find those guidelines here.

Eligible Loss Cryptocurrencies

The amount that claimants may recover will hinge on the Eligible Loss Cryptocurrency they originally held. A comprehensive list of these cryptocurrencies will be available on the Kroll site beginning March 31, 2025. Please note that cryptocurrencies with an on-chain liquidity of less than $100, along with specific exclusions (for instance, Luna 2.0 holdings), will not be eligible.

Filing Your Claim: Step-by-Step Instructions

It's essential to follow a systematic approach when submitting your claim to ensure everything goes as smoothly as possible. Here’s a detailed roadmap to guide you through the process:

1. Register on the Online Portal:
   Visit claims.terra.money on or after March 31, 2025, to start your registration.

2. Proof of Ownership:

   • For cryptocurrencies held within the Terra Ecosystem or other supported networks, you need to sign a transaction with your wallet through the Online Portal (and no transaction fees will be incurred).
   • If your assets are on external platforms, providing a read-only API key is highly recommended. Step-by-step instructions will be available on the portal.

3. Complete the Crypto Loss Claim Form:
   Fill out the claim form completely, detailing all eligible purchases, holdings, and actions taken with these cryptocurrencies.

4. Submit Before the Deadline:
   Make sure your claim is submitted by April 30, 2025, at 11:59 p.m. ET.

What Happens After You File?

Once your claim is submitted, the Wind Down Trust will meticulously review it. We can expect to receive notifications about our claims' initial determinations within 90 days following the Crypto Loss Claim Bar Date. Should any disputes arise, claimants will have the opportunity to contest these determinations according to the guidelines in Section V.c of the Claims Procedures. All undisputed claims will be processed for initial disbursements to be distributed on a pro-rata basis—fair and square.

Important Considerations

• Accuracy Matters: Providing complete and truthful information is paramount. Any failure to disclose essential details may lead to claim disallowance.

• Identify Verification: To ensure disbursements are made efficiently, creditors must fulfill certain identity verification requirements.

• Need Assistance? Should any issues arise while accessing the Online Portal, we encourage you to reach out to Kroll at Terraforminfo@ra.kroll.com.

Additional Resources and Information

As the launch date approaches, keep yourself updated:

• Court Filings and Updates: More information about the claims process can be found at DM Epiq and Delaware Bankruptcy Court.

Conclusion

As we prepare for the launch of the Crypto Loss Claims Portal on March 31, 2025, we urge all members of the Terra community to stay informed and ready to act. The deadline looms large on April 30, 2025, at 11:59 p.m. ET, and we sincerely want to see all eligible claimants take the necessary steps to reclaim what they can. Remember, preparation is key. If you have questions or need further assistance, do not hesitate to reach out to the resources provided. Let’s navigate this process together and support one another as we face this challenge head-on.

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