Defunct Celsius Opens Withdrawal Access for Eligible Cryptocurrency Holders
Bankrupt cryptocurrency lender Celsius has opened withdrawals for eligible custody customers starting November 29, according to a statement on X (formerly Twitter).
Beginning today, additional withdrawals for Eligible Custody Users are now available. Please note that the only assets currently available for withdrawal are certain Custody Assets; all other cryptocurrency remains unavailable for withdrawal at this time.
— Celsius (@CelsiusNetwork) November 29, 2023
According to a court filing on November 28, “Celsius eligible custody users” are customers with “Class 6A General Custody Claims and/or Class 6B Withdrawable Custody Claim.” These users can withdraw 72.5% of their crypto holdings, excluding transaction fees, until February 28.
However, only specific custody assets are currently available for withdrawal, while all other cryptocurrencies remain inaccessible.
For a seamless process, Celsius urged users to withdraw their assets from the Celsius app and make personal records of any information they may find useful, emphasizing that the app will only be available for a limited time.
We strongly encourage you to withdraw these assets from the Celsius app and take personal records of information you may find useful immediately, as the Celsius app will only be available for a limited time.
— Celsius (@CelsiusNetwork) November 29, 2023
Despite these instructions, customers have encountered various issues during withdrawal attempts.
A user on X, ChazzonKe, stated that the crypto lender platform had 17 months to prepare and launch a withdrawal access portal, yet customers are now facing difficulties logging into their accounts via the app.
Hearing reports that social logins are having issues on the celsius app along with other login
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