If you were impacted by the significant downturn of the Luna token and TerraUSD stablecoin, both from Terraform Labs, there’s important news. Terraform Labs will be launching an online portal on March 31st to facilitate the submission of claims. This is for investors seeking to recover losses connected to the company’s collapse and subsequent bankruptcy proceedings.

This online system, managed by the claims administrator Kroll, is a key part of the court-supervised process for winding down the company. For investors looking to file a claim, the deadline is April 30th at 11:59 p.m. ET. Make sure to submit your information through claims.terra.money before then. It’s crucial to note that any submissions after this deadline will not be accepted, meaning you would unfortunately forfeit your right to any potential recovery, as highlighted in a Medium post.

To be eligible, your claims need to be related to specific cryptocurrencies outlined in the official case documents, and you must have held these during the period around the Terra ecosystem’s major disruption. It’s important to be aware that certain assets, particularly those with less than $100 in on-chain liquidity, and others like Luna from Terra 2.0, will not be considered eligible for claims.

When submitting your claim, you’ll also need to provide proof of ownership. The claims administrator recommends using read-only API keys from exchanges as the preferred method, as they are considered more reliable than screenshots or manually uploaded documents. The Medium post also mentions that using manual evidence could lead to longer review times or even the rejection of your claim. Using API keys is definitely advisable.

Once you’ve filed your claim, it will go through a review and verification process. You can expect to receive initial decisions within 90 days after the submission deadline. If your claim is approved, you’ll be eligible for pro rata distributions, which are shares of the available funds, once the entire processing phase is complete.

To remember the scale of events, the Terra ecosystem collapse in 2022 was an unprecedented event. It resulted in the cryptocurrency space’s most significant wealth destruction within just three days. LUNA’s market cap dramatically dropped from over $41 billion to just $6 million in that short time.
Read more: Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud Case