SALT Lending’s 2017 ICO Claim Form Finally Released, But Showing Errors

Crypto loans provider SALT Lending has finally launched its ICO claim forms so users can apply for their investment refunds. However, when you go to view the forms, they error out (as shown below).

Update July 14: It seems the UTM query string in the link was breaking the form and it is now working here.

The short backstory is that SALT had a long battle with the SEC about an ICO it ran in 2017 (raising US$47 million) without having a successful registration from the SEC.

On July 12, 2021, SALT announced on its Twitter and blog post that the claim forms were available:

We’ve heard your feedback and we’re committed to doing better– Claim Form Now Available for Eligible Purchasers of the SALT Token: https://t.co/H5uI0BzHOc pic.twitter.com/ki5M96zLgS

— SALT (@SALTLending) July 11, 2021

Claims Form Errors

On clicking the link to view the forms, saltoffer.com, users were shown error pages.

And the error from the saltoffer.com website shows “unauthorised access”.

Users who are trying to use the claim form must be frustrated; hopefully SALT will address this and fix the forms soon. We’ll keep you updated.

Who is Entitled to Make a Claim?

As detailed on the claims process FAQ page:

All persons and entities that obtained Salt Tokens from the company on or before December 31, 2019 are entitled to make a claim pursuant to the claims process. A valid claim, among other things, would require the claimant to return the Salt Tokens obtained directly from the company, or substantiate that these were sold on an exchange at a loss, including their value at the time of sale.

SALT Lending FAQ

The interest rate SALT uses is quite interesting too:

We expect to calculate interest by using the yield of the 1-year U.S. Treasury note, which for June 15, 2021 was 0.08%.

SALT Lending FAQ

It’s also stated that you have three to six months to submit your claim, and you’ll be paid in US dollars to your designated bank account.

Logging into the platform errors

Upon logging into the SALT Lending platform, I saw two errors. One showing an error fetching jurisdiction information, and one showing my ID verification failed.

The ID error surely cannot be correct, as I verified with them at least twice before, and all that information now seems to be completely missing.