Terraform Labs: Creditor claims portal launched on March 31, with a maximum compensation of $500 million

Odaily News Terraform Labs, a blockchain company that has filed for bankruptcy, announced that it will officially open a channel for crypto creditors to file claims on March 31, with a deadline of April 30. According to the company's claim guidelines, creditors need to submit proof of asset holdings, including wallet addresses and exchange API keys. If "artificial evidence" such as transaction records are used, they will face a longer review period.
The company promised to pay creditors between $185 million and $442 million in compensation in a restructuring plan approved by the court last September, part of a $4.47 billion settlement with the SEC. In particular, the SEC has agreed to prioritize paying ordinary creditors over regulatory fines. The claim involves investors who suffered losses from Terra's $40 billion collapse in 2022.
(The Block)