Terraform Labs is set to launch its crypto loss claims portal on March 31, aimed at reimbursing individuals who lost at least $100 during the collapse of the Terra ecosystem in May 2022, which saw losses of $45 billion. Claimants must submit evidence of their losses by April 30, with claims under $100 not accepted. Two types of evidence can be submitted: manual evidence, such as transaction logs and screenshots, and preferred evidence, which includes read-only API keys, considered more reliable. Claims with manual evidence may face longer review times and could be rejected if preferred evidence is available. Terraform Labs estimates it could reimburse between $184.5 million and $442.2 million, though the total eligible losses are difficult to assess. The portal launch follows a Delaware court's approval for Terraform Labs to wind down operations. The company previously faced significant legal challenges, including a SEC lawsuit in June 2024, and its founder, Do Kwon, was arrested in Montenegro amidst felony charges from the US Justice Department.

Source 🔗