Crypto Lender Celsius Faces Another Group of Customers Who Want Their Money Back

Sept 01,2022
KingData News: A group of custodial-account holders at Celsius has formally asked the court overseeing the crypto lender’s bankruptcy case to authorize the return of their funds. The group is composed of 64 people who hold at least $22.5 million in cryptocurrencies with Celsius’s custody service, according to the filing. The account holders say Celsius still has in its possession the same type of cryptocurrencies that they deposited, and the funds remain separate from the rest of Celsius’ funds. The firm, therefore, has the ability to allow them to withdraw their funds, it just hasn’t done so.
On June 13, digital asset lending platform Celsius Network announced that it would suspend all withdrawals, swaps and transfers between accounts due to extreme market conditions. On the same day, Etherscan data showed that Celsius transferred a total of approximately 111,815 ETH to FTX over the last three days. This indicator provides a real-time tracking of Celsius' funding crisis.