The long-awaited claims process for affected Terra participants is finally going live. If you held specific digital assets on the Terra ecosystem before the events that led to its financial distress, now is your opportunity to file for a potential recovery through the Terraform Labs Crypto Loss Claims process.
This article will break everything down: what the project is about, who’s eligible, and how to file your claim in clear, precise steps. No fluff, no confusion — just the information you need to take action.
🌐 What Is Terraform Labs Crypto Loss Claims?
Terraform Labs (TFL), the entity behind the Terra ecosystem, has initiated the process of winding down its operations. As part of this, a dedicated Crypto Loss Claims mechanism has been launched to allow eligible participants to submit claims for digital asset losses.
These losses are tied to the decline of certain cryptocurrencies, particularly those associated with the Terra USD token and the broader ecosystem’s instability. Creditors (including everyday holders like you) can now submit their claims through a secure online portal operated by a third-party administrator.
But there’s a timeline — and if you miss it, you forfeit any potential recovery. So let’s get clear on the details.
⏳ Key Deadlines You Need to Know
- Claims Submission Opens: March 31, 2025
- Final Deadline to File: April 30, 2025 at 11:59 p.m. Eastern Time
- Initial Review Window: Up to 90 days after the submission deadline
Once your claim is reviewed, you’ll receive a notice about whether your claim was accepted, partially accepted, or requires further documentation.
✅ Who Can File a Claim?
To be eligible, you must meet these criteria:
- You held specific eligible cryptocurrencies prior to the Terra collapse.
- Your holdings were either on the Terra blockchain (pre-collapse) or verified through other networks/platforms.
- You can prove those holdings using either automatic methods (preferred) or manual documentation (subject to longer review).
- The cryptocurrency you’re claiming for must be on the official list of Eligible Loss Cryptocurrencies (check this list through the Terraform Labs Crypto Loss Claims platform starting March 31, 2025).
Not eligible:
- Tokens with on-chain liquidity below $100
- Assets like Luna 2.0 (on Terra 2.0)
- Unsupported custom tokens
🧾 What Evidence Is Accepted?
There are two types of evidence you can submit:
1. Preferred Evidence (Recommended)
- Wallet signature (if you held funds directly on the Terra chain)
- Read-only API keys (if your funds were on major exchanges or platforms)
This is the fastest and most reliable way to verify your claim. These types of data are secure, accurate, and less likely to result in a rejection.
2. Manual Evidence (Longer Review Process)
- Screenshots
- Transaction logs
- Account statements
Important: If you submit manual evidence for assets that could have been verified via Preferred Evidence, your claim may be rejected.
🔍 Step-by-Step: How to File Your Terra Loss Claim
Here’s the exact process to follow from start to finish:
Step 1: Access the Claims Portal
Starting March 31, 2025, visit the Terraform Labs Crypto Loss Claims portal. You’ll need to register with your email and create a secure password to begin.
Step 2: Verify Ownership of Your Crypto Assets
You’ll now be prompted to verify that you owned the eligible cryptocurrencies. The method depends on where your assets were held:
🔒 If Held on the Terra Blockchain:
- The portal will provide a message that you must sign using your Terra wallet.
- This is done through the portal interface — no transaction fee will be charged.
- Signing this proves ownership without needing to submit additional documents.
🔑 If Held on an Exchange or Other Platform:
- Use read-only API keys from the platform where your assets were held.
- The portal includes guides to help you retrieve these keys from common platforms.
- Submitting API-based data ensures faster processing.
🧾 If Preferred Evidence is Unavailable:
- Upload screenshots or PDF statements that clearly show:
- The name of the platform
- Your wallet address or username
- The amount and type of assets held
- The transaction history leading to your loss
Note: If you upload manual evidence for assets where API keys are possible, your claim may be rejected or delayed.
Step 3: Complete the Claim Form (CLC Form)
Once your assets are verified, the system will take you to the Crypto Loss Claim Form:
Fill out the following details:
- Each eligible asset you held
- Acquisition date(s)
- Quantity
- Actions you took (staking, swapping, selling, etc.)
- Remaining balance before the collapse
Be accurate — if your information doesn’t match blockchain or API records, the claim may be disallowed.
Step 4: Identity Verification & Disbursement Details
To ensure secure disbursement:
- Provide your government-issued ID (or other accepted documents)
- Input your preferred method of receiving distributions (e.g., a supported wallet address)
Identity verification is mandatory for receiving any payout.
Step 5: Submit Your Claim
Review your information carefully, then submit the form. You’ll receive a confirmation email and can track your claim status through the portal.
📌 Don’t forget: All claims must be submitted by April 30, 2025 at 11:59 p.m. ET.
📬 What Happens After You Submit?
Here’s what to expect:
- Within 90 days, you’ll get a notification with:
- The Plan Administrator’s initial decision (approved, partially approved, or pending further review)
- If you agree, you’ll confirm it through the portal.
- If you disagree, you can dispute it through the built-in process outlined in the claims interface.
- Once undisputed, your approved claim becomes eligible for pro rata disbursements.
The disbursement process will be managed by the Wind Down Trust. Keep your identity info and contact details up to date to avoid delays.
🧠 Final Notes
- Submit your claim early to avoid last-minute issues.
- Use Preferred Evidence if at all possible.
- Don’t skip the identity verification step — it’s required for payouts.
- If you need help, use the support email addresses listed in the portal.
📣 Wrapping Up
This is a critical opportunity for former Terra asset holders to seek potential compensation through the Terraform Labs Crypto Loss Claims process. The portal is designed to be accessible, but you must act fast, follow each step carefully, and submit your claim before the deadline.
Don’t miss your chance. Now you know exactly how to do it.
