Terraform Labs – the company behind Luna (ColorThe Stablecoin Terrausd (UST) – Will Release Curd Calls for Curd on March 31. The portal aims to compensate for individuals who lost at least $ 100 due to the collapse of the Terra ecosystem in 2022.
The move comes after the Delaweer Court approved the Terraform laboratories to calm the operations. The judge supervises the case Agreed With the TerraForm Labs Plan, he described it as a “welcome alternative” for more litigation about investor losses.
Terraform Laborators He settled with the US Securities and Stock Exchange Committee (Second) In June 2024, compared to $ 4.47 billion.
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To be eligible to obtain compensation, the owners of the demands must submit a claim and support the documents through the coding losing the coding portal by 11:59 pm on April 30. Claims of less than $ 100 will not be accepted.
There are two types of evidence that demanders can provide: manual and virtue. Hand evidence includes transactions, account data and screen clips.
Favorite evidence indicates API keys for reading only. It is preferable to being the most accurate and reliable data, especially for major exchange users.
In its announcement, Terraform Labs warned that the claims made with manual evidence “are likely to undergo a lengthy review” and may not be allowed if the favorite evidence is also available. The company estimates that it can pay from $ 184.5 million to $ 442.2 million for investors and stakeholders, although it has noticed that the total amount of qualified encryption losses is still difficult to determine.
Terraform Labs fall from grace
In June 2024, Terraform Labs announced it You will stop operations He conveyed control of Terra Blockchain to her community. The entity plans to sell the main projects in the TERRA ecological system and burn non -invested and acquired holdings.
Before its dramatic collapse, Terraform Labs presided over a 45 billion dollar environmental system that includes Stablecoin algorithm and Luna. Did Do Kwan, founder of Terraform Labs, are arrested in Montenegro and Delivery to the United StatesThe US Department of Justice accused him of eight crimes.
The collapse of the ecosystem Terra sent shock waves across the encryption community. At that time, Bitcoin (BTCIt lost 37 % of its value in 30 days, decreased 19,000 dollars.
The KWON session was delayed in the US Court until April 10 as two years prosecutor They review a set of new evidence.
Related to: Terraform Labs and Do Kwon found responsible for fraud in the SEC case
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