Some Celsius clients have reported being able to withdraw funds from the failing crypto company for the first time, some 263 days later. that the lender froze the withdrawals in the lead up to your bankruptcy filing.
According to numerous posts on social media, As of March 2, some customers who had funds in Celsius escrow accounts have been glad to finally be able to withdraw their funds from the lender.
Glad to be one of the few to get their money back in almost one piece. Hoping everyone else will receive theirs in due time
— richieroyce.eth (@Richie_Royce) March 2, 2023
I’m glad I’m one of the few who have gotten almost their entire money back. I hope everyone else gets theirs in due time.
Clients report receiving an email a few weeks ago listing people who could withdraw their funds, before receiving another on March 2 stating that withdrawals could be processed..
While some users who whitelisted their wallets before attempting to withdraw their funds received them within minutes, others reported long delays.
However, a backlog of removal attempts seems to have been piling up, with some claiming that removal requests are turning into support tickets that could take several days to process as a result of “too many requests and not enough staff”.
On January 31, Celsius published details about who could withdraw fundsand customers who had only held funds in escrow accounts were currently able to withdraw 94% of their original funds.
Custodial accounts were only available to US residents. Withdrawals are restricted to these customersmuch to the disappointment of customers with funds in other accounts offered by Celsius.
Custodial account holders could still recover the other 6%, pending future court hearings.
Clients who had transferred funds from earnings programs or loans to an escrow account can apparently withdraw 72.5% of their funds at this time, up to a maximum of $7,575.
The lender had first announced it would freeze withdrawals on June 13, citing “extreme market conditions,” before filing for bankruptcy on July 13..
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.