File TFL Bankruptcy Claim by April 30

• Terraform Labs launches claims process for UST creditors; deadline April 30
• Register via claims.terra.money with proof of ownership before deadline
• Recovery is not guaranteed; payouts are pro rata based on available assets

Bankrupt firm Terraform Labs has launched a claims process to address creditor losses from the failed TerraUSD (UST) stablecoin collapse. 

The official Crypto Loss Claims Portal opens March 31, 2025. Creditors must file claims before the strict April 30, 2025 deadline (11:59 p.m. Eastern Time).

How Do Creditors File Claims?

Meeting that deadline requires specific steps for claim submission. Claimants must first register via the official portal at claims.terra.money. Registration involves providing acceptable proof of asset ownership, such as signed blockchain transactions or read-only API keys from cryptocurrency exchanges. Finally, a completed Crypto Loss Claim Form with detailed documentation must be submitted through the portal before the cutoff to avoid forfeiture.

How Will Claims Be Reviewed?

Once submitted, Kroll Restructuring Administration LLC will oversee the claim reviews. A designated Plan Administrator then determines each claim’s eligibility and its calculated value. 

The type of evidence provided impacts processing speed; claims using API keys (“Preferred Evidence”) are expected to process faster than those relying on screenshots or logs (“Manual Evidence”). Manual submissions face longer reviews and carry a higher risk of potential disallowance.

Related: Terraform Labs Announces Shutdown of Enterprise, Warp, and Station

What Is the Legal Basis for This Process?

This entire claims process operates under a formal legal framework. It is part of Terraform Labs’ ongoing Chapter 11 bankruptcy proceedings filed in the U.S. Bankruptcy Court for the District of Delaware. 

The court’s specific Crypto Loss Claim Bar Date Order (Docket № 965) officially details the required procedures, making this process an integral component of the company’s restructuring efforts.

Related: Terraform Labs Co-founder Do Kwon Extradition Approved by Montenegro Supreme Court

Successfully filing a complaint claim by the specified deadline may entitle creditors to some form of recovery. Any potential payouts depend entirely on assets recovered during the bankruptcy and will be distributed proportionally (pro rata) among all approved claims. 

The Plan Administrator must approve final claim amounts, which remain subject to potential disputes. Importantly, this process does not guarantee full compensation for losses. Creditors do retain the right to dispute denied or modified claims according to procedures outlined in Section V.c of the official Crypto Loss Claims Procedures document.

How Are LUNA and LUNC Tokens Performing?

The ongoing bankruptcy and claims process appear to continue weighing on Terraform Labs’ native tokens. 

Currently, LUNA trades around $0.2004, reflecting a decrease of 6.58% over the past 24 hours. This price places LUNA below its 20-day Exponential Moving Average (EMA), a technical indicator currently near $0.2104. 

Simultaneously, LUNA’s predecessor token, LUNC (Terra Classic), trades near $0.00006301, also down about 6.20% in the same period and below its 20-day EMA (around $0.00006469). Both tokens struggling beneath these key short-term technical levels suggest persistent weak market sentiment surrounding these assets.