Several Celsius customers have reported being able to withdraw funds from the bankrupt crypto company for the first time. This is 263 days after the company halted the incorporation process leading up to bankruptcy.
Money can again be withdrawn by a few
On March 2, several customers who had funds in their Celsius Custody accounts were delighted to finally be able to withdraw funds from the lender, as evidenced by numerous social media posts. Through Twitter this was also confirmed by Celsius himself.
Previously received an email
A few weeks ago, some customers received an email with a list of individuals who were eligible to withdraw their funds, according to their reports. On March 2, they then received another email stating that withdrawals could be processed. This email is shown in the image below.
Nevertheless, it is worth mentioning that the entire process did not run smoothly. While some customers who had their wallets on the whitelist were able to withdraw their money from the platform almost immediately, others experienced enormous delays.
There seems to be a (significant) backlog of withdrawal attempts, with some users claiming that withdrawal requests are turned into support tickets that can take several days to process due to “too many requests and not enough staff”.
Not everyone gets money back
On Jan. 31 following Celsius details of the comments received in the comments to withdraw money, and customers with money in custodial accounts can currently take 94% of their confirmed money, their post shows. However, these custodial accounts were only available to residents of the United States (US), with other Celsius customers disappointed that they were unable to process funds from other types of accounts.
The remaining 6% could also be returned, but the company is still awaiting any (future) court hearings for this.
Customers who had transferred funds from the earning or loan program to a brokerage account are currently apparently able to withdraw 72.5% of their funds, up to a maximum of $7,575, or approximately $7,140.
The crypto lender had first announced they would freeze withdrawals on June 13, citing “extreme market conditions,” before filing for bankruptcy on July 13.
