The launch of the crypto claims portal comes nearly three years after the Terra ecosystem’s $45 billion collapse in May 2022.
Terraform Labs — the company behind LUNA (LUNA) and algorithmic stablecoin TerraUSD (UST) — will launch its crypto loss claims portal on March 31. The portal is aimed at reimbursing individuals who lost at least $100 due to the collapse of the Terra ecosystem in 2022.
The move follows a Delaware court’s approval for Terraform Labs to wind down operations. The judge overseeing the case agreed with Terraform Labs’ bankruptcy plan, calling it a “welcome alternative” to further litigation over investor losses.
Terraform Labs settled with the US Securities and Exchange Commission (SEC) in June 2024 for $4.47 billion.
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