1. Celsius, a bankrupt cryptocurrency lending firm, has issued an official statement regarding the pending withdrawals for eligible users.
2. Eligible users are required to update their accounts with AML and KYC information before withdrawals can be processed.
3. Users will also be informed of the gas and transaction fees associated with the withdrawal process.
Celsius, a bankrupt cryptocurrency lending firm, has recently issued an official statement regarding the pending withdrawals for eligible users. The statement, which was included in a 1,411-page court filing with the US Bankruptcy Court in the Southern District of New York, provides a list of users who will be able to retrieve approximately 94% of their eligible custody assets. The remaining 6% of assets will be determined at a later date.
In order for these withdrawals to be processed, eligible users are required to update their Celsius accounts with the necessary information. This includes Anti-Money Laundering (AML) and Know Your Customer (KYC) data, as well as the withdrawal destination address. Failure to provide the necessary information will result in the inability to withdraw assets. Users will also be informed of the gas and transaction fees associated with the withdrawal process. Those who do not have sufficient funds in their accounts to cover these fees will not be able to withdraw their assets.
The release of this information follows a court filing submitted by the court-appointed examiner, Shonu Roy. In the filing, Roy was tasked to investigate the events leading up to the bankruptcy of Celsius, as well as to make recommendations on how to best manage the remaining assets. Roy’s report concluded that Celsius had violated several provisions of the Bankruptcy Code, including improper transfers of assets and failing to maintain proper accounts and records.
With the release of this information, users with eligible accounts can now begin the process of retrieving their assets. This will be a complex process with several steps that need to be followed in order to ensure that all funds are retrieved without any issues. Those who have any questions about the process are urged to contact their customer service representatives for further information.