Celsius Custody customers finally begin withdrawals 263 days after freeze

Some Celsius customers person reported being capable to retreat funds from the bankrupt crypto steadfast for the archetypal time, immoderate 263 days aft the lender froze withdrawals successful the lead-up to its bankruptcy filing.

According to galore societal media posts, arsenic of Mar. 2, definite customers who held funds successful Celsius’ Custody accounts person been overjoyed that they were yet capable to retreat their funds from the lender.

Glad to beryllium 1 of the fewer to get their wealth backmost successful astir 1 piece. Hoping everyone other volition person theirs successful owed clip

Customers study they received an email a fewer weeks agone listing those who were eligible to region their funds, earlier receiving different connected Mar. 2 noting withdrawals could beryllium processed.

An email sent from Celsius to eligible customers connected Mar. 2. Source: Twitter

While immoderate users who whitelisted wallets up of their withdrawal effort received their funds wrong minutes, others pointed to ample delays.

Celsius customers discussing withdrawal processing times connected Reddit. Source: Reddit

A backlog of withdrawal attempts seems to person built up, however, with immoderate claiming that withdrawal requests are being converted into enactment tickets which could instrumentality immoderate days to process, arsenic a effect of “too galore requests and not capable staff.”

A Reddit idiosyncratic claimed they were told their petition could instrumentality days to process. Source: Reddit

On Jan. 31, Celsius published details connected who was eligible to withdraw, with customers who had lone ever held funds successful custody accounts capable to presently retreat 94% of their archetypal funds.

The custody accounts were lone disposable to United States residents. The withdrawals are restricted to these customers overmuch to the disappointment of customers with funds successful different accounts offered by Celsius.

Related: Wrapped Bitcoin proviso drops to antagonistic aft 11,500 wBTC pain linked to Celsius

Custody relationship holders whitethorn yet beryllium capable to get backmost the different 6%, pending aboriginal tribunal hearings.

Customers who had transferred funds from the gain oregon get programs to a custody relationship are seemingly capable to retreat 72.5% of their funds astatine this constituent successful time, up to a maximum of $7,575.

The lender had archetypal announced they would beryllium freezing withdrawals connected Jun. 13, 2022, citing “extreme marketplace conditions,” earlier filing for bankruptcy connected Jul. 13.