Terraform Labs has taken the first step to resolve the creditors to stop operations and repay all investors due to a $ 44.7 billion payment case. In a message about X on March 28, 2025, the company announced that it will take the submission of LUNC & other Crypto loss claims from March 31, 2025.
LUNC and LUNA CRYPTO Comment Portal argues that it will be broadcast live until 11:59 pm (Eastern time) on April 30, 2025. However, some of the Terra ecosystem tokens are excluded from repayment transactions (e.g. LUNA 2.0 of Terra 2.0) was launched in May 2022 after the rapid drop in the original Terra chain.
At that time, the terrible escape of the algorithm Starbloin Terra USD (USST) brought $ 40 billion in bite to Terra’s liquidity, down 99% of the main token Terra Luna (LUNA) in several weeks.
After a while, the original blockchain was given to the community and changed the brand to Terra Luna Classic (LUC) so that a dedicated community developer could restore some of the original values ​​of the Layer-1 chain.
For more information about LUNC, LUNA & USSTC holder
It is important to pay attention to the fact that the evidence may be automatic and manual if you fill the submission of cryptocurrency losses. For those who want a fast and soft process, it can be authenticated through reading -only API keys. Terra Luna Classic (LUC) holders, on the other hand, can submit account specifications, screenshots and transaction logs.
Obviously, manual verification takes longer time, while automatic verification through API can initially determine the quick repayment timeline. In the case of the selected blockchain, the official blog’s official blog promised to make the identification process easier with a free transaction signature.
In June 2024, when the US Securities and Exchange Commission (SEC) signed a contract with Terraform Labs, Terra Chain’s founder Do Kwon and some employees still had to take responsibility. “To adjust one of the biggest frauds in American history recklessly,” By jury. Thus, a $ 4.44 billion fine included a $ 3.55 billion aversion, $ 460 million, and $ 420 million civil punishment.
on the other way
- According to the statement, digital assets with liquidity of less than $ 100 are not eligible to be refunded, but they are not sure which version of the Terra (LUNA) version deserves.
- Despite the $ 4.47B agreement with the US Securities and Exchange Commission (SEC), all Terra’s tokens have been further lower since last summer’s positive ruling.
- Terra LUNA Classic (LUNC) decreased by 59% every year, while DEPEGGED Stablecoin Terra Classic USD (USD) remained in a dollar coin.
Why this is important
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