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Terra-Luna: After the collapse, the portal for refunds opens
By Daniele Corno
If you were affected by the collapse of UST following the failure of Terra-Luna, you may be entitled to a refund. Here's what to do
A portal for compensation arrives
Almost three years after the collapse of the Terra-Luna ecosystem, Terraform Labs is opening a portal for compensation.
The portal is scheduled to open on March 31, 2025 and claims will be received until the deadline of April 30, 2025.
This process follows the declaration of bankruptcy and Chapter 11, following the collapse that eroded over $40 billion dollars in a matter of days, with the bankruptcy of the Stablecoin UST and the consequent collapse of the LUNA token.
The management of the reimbursement plan is in the hands of the company Kroll Restructuring Administration LLC. It will involve those who were affected by losses due to the collapse of UST and, as specified, amounts less than $100 dollars will be excluded.
According to estimates, the value of the refunds is between $185 and $442 million, equal to less than 1% of the value of the ecosystem at the time of the collapse.
How to proceed with the request?
Starting from March 31, 2025 and no later than April 30, it will be possible to make your request through the following domain: claims.terra.money
Once registered on the portal, you will need to provide proof of ownership of the assets at the time of the collapse. This process will be available to those who owned UST on centralized platforms as well as on personal wallets, and the procedures will be as follows:
- Custody on Exchange Trading: The simplest option is to connect to the read-only APIs of the custody platforms in question. Alternatively, manual evidence can be provided, such as screenshots, platform statements and dashboards. PLEASE NOTE: Providing manual evidence involves a lengthy review phase and may be rejected.
- Custody on Wallet non custodial: It will be sufficient to sign a transaction from the addresses affected by the collapse.
You will then be asked to fill out a form, in which you will need to include proof of purchase, sale, swap on DEX, participation in Lending and/or Staking. Once all fields have been filled in, the user can then submit their request.
The process will then go through a request review phase, over a period of 90 days starting from April 30, 2025. Specific communications will then be sent to creditors, regarding eligibility and balances due, before starting the next phase, which is that of repayments.
