TerraForm Laboratories Powered by the Receivance Portal for the beginning of creditorship of creditors

Terraform Laboratories, Singapore company based behind Clockcain and its connected cryptocarnets Terrausd and Luna, launches a Cripto ASSET portal loss as at 31. March, claim until 30. April. April.

28. Marta, TerraForm Laboratories announced That the portal will request a CRIPTO loss, it will open 31. Marta, with the condition of the creditor to submit their requirements and accompanying documents through portals until 23:59 ET. April 30. April.

The amounts of receivables will be calculated on the basis of accessories for cryptocurstry accessories for crypting loss. CRIPTO ASSETS with liquidity on the chain below $ 100, as well as certain other farms such as Luna 2.0 on Terra 2.0, are not eligible for receivables.

Terraform laboratories launches a request portal as part of its agreement on settlement with US Securities Commissions and initiating the procedure of commencing creditors who suffered losses after failing terra. Among the largest unsecured credentials are Aleksandar Svanevik standard crypto and Ashlei Svaren, a commercial guide at tokenterminal.

In January 2024. years, TerraForm Labs submit For Chapter 11 Bankruptcy in the United States, reporting property and liabilities between $ 100 million and $ 500 million. By September 2024. year, the American bankruptcy court approved Company plan to reduce their operations after 4.47 billion dollars settlement With SECA over charges of fraud relating to the collapse of Teruska (USST) StableCoin.

The SEC states that 2021. TerraForm Laboratories and that Kvon was registered with investors about the ability of Teruska to maintain its PEG of $ 1. Specifically, after Terrausd dropped below $ 1 for the first time in May 2021. years, Kwon and Terraform Secret deployed In order for the third party to redeem large amounts of Teraus to return his PEG, while publicly misreprosals as a result of algorithm efficiency.

The Agency also claimed that the quone and company falsely stated That Blockain’s Blockain is related to widely used Korean mobile applications to pay for Chai.

Terra collapse

Terra is in May 2022. failed after his Stablecoin UST lost his PEG to the US dollar, which resulted in a $ 40 billion Vipue. The UST was algorithmic stablecoin, which means that it was not supported by reserves such as cash or property. Instead, he relied on mechanism for mint and incineration with his sister token, Luna. When the demand is increased, Luna burned into a new UST in Mint. In contrast, when the UST supply is needed to reduce, the UST was burned in the Metva Luna.

At the beginning of the 20th. May 2022. year, a large raise of the anchor protocol (borrowing a platform offered by 20% of the API on the deposit) was created by the pressure of the UST. The UST started to prepare $ 1, drop to $ 0.98 and then lower. Traders are panicked and rushed to sell the UST, causing even more instability.

To renew the Peg, the TerraForm Copied Mass Labs Luna to absorb the sale. But it is overwhelmed by the Luna market, causing its price to fall from $ 80 + to fractions in the road. Even after Terraform Laboratories arranged $ 3 billion in Bitcoin (Btc) Reserves for returning the PEG UST, it was failed.

Co-founder was a quone arrested In Montenegro in March 2023. and he was extradited For the United States at the end of 2024. years, facing charges of fraud and money laundering.