Celsius publishes list of users eligible to withdraw majority of assets

Bankrupt cryptocurrency lending steadfast Celsius had travel up with a withdrawal process for users who had their crypto successful its custody erstwhile it stopped withdrawals successful June 2022.

Celsius released an authoritative update connected upcoming withdrawals connected Jan. 31, providing the database of users that volition beryllium eligible to retreat astir 94% of eligible custody assets.

The steadfast laid retired the process successful a 1,411-page tribunal filing with the United States Bankruptcy Court for the Southern District of New York, listing the afloat names of each the eligible users alongside the benignant and magnitude of debted crypto assets.

Celsius stressed that eligible users volition beryllium asked to update their Celsius relationship with definite required accusation anterior to immoderate withdrawals being processed. The requested accusation includes lawsuit information related to Anti-Money Laundering and Know Your Customer policies arsenic good arsenic details astir the destination code of the withdrawal, Celsius said, adding:

“Unless and until an eligible idiosyncratic updates his oregon her relationship with the required relationship updates, specified eligible idiosyncratic volition beryllium incapable to retreat his oregon her distributable custody assets from the debtors' platform.”

The filing besides notes that it’s not yet known whether eligible users volition beryllium capable to retreat the remaining 6% of the assets arsenic the tribunal volition marque a determination regarding this question astatine a aboriginal date.

Eligible users volition besides person circumstantial details related to state and transaction fees associated with the upcoming withdrawal procedures. “Eligible users who bash not person capable assets successful their accounts to fulfill these fees volition not beryllium permitted to retreat their assets,” Celsius wrote.

Related: Judge denies motions from Celsius users seeking to reclaim assets

The quality comes amid Celsius’s court-appointed examiner submitting a tribunal filing connected definite aspects of operations astatine the lender, including details astir its analyzable dealings with the collapsed FTX exchange. The examiner study besides revealed that Celsius utilized the accounting bundle Quickbooks to support way of its finances, conscionable similar FTX and Alameda Research did.

Court-appointed examiner Shoba Pillay besides wrote that Celsius and its laminitis Alex Mashinsky did not present connected its promises surrounding its autochthonal Celsius (CEL) token and different concern activities.