Celsius unfrozen customer accounts-withdrawal available
2023.03.03 03:24
Celsius unfrozen customer accounts-withdrawal available
By Tiffany Smith
Budrigannews.com – Approximately 260 days after the lender frozen withdrawals in the lead-up to the bankrupt cryptocurrency company’s bankruptcy filing, some Celsius customers have reported being able to withdraw funds from the bankrupt company for the first time.
As of March 2, a number of posts on social media claim that some customers who held funds in Celsius’ Custody accounts were overjoyed to finally be able to withdraw those funds from the lender.
I’m happy to be one of the few who got their money back in pretty good shape. I hope that everyone else will get theirs soon.
Customers say they got an email a few weeks ago with a list of people who could take their money out, and another on March 2 said withdrawals could be done.
Some users who whitelisted wallets prior to attempting a withdrawal received their funds in a matter of minutes, while others reported significant delays.
However, there appears to be a backlog of withdrawal attempts, with some claiming that withdrawal requests are being transformed into support tickets, which could take several days to process due to “too many requests and not enough staff.”
Customers who had only ever held funds in custody accounts are currently able to withdraw 94% of their original funds, according to information published by Celsius on January 31 regarding who was eligible to withdraw.
Only residents of the United States had access to the custody accounts. Customers who have funds in other Celsius accounts will be disappointed to learn that they can only withdraw those funds.
In the event of future court hearings, holders of custody accounts may still be able to recover the remaining 6%.
Customers who have transferred funds from the earn or borrow programs to a custody account appear to be able to withdraw up to $7,575 at this time.
Prior to declaring bankruptcy on July 13, the lender had made the initial announcement that they would be freezing withdrawals on June 13, citing “extreme market conditions.”
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