general

Will bankrupt Celsius clients get their money back?

Will bankrupt Celsius clients get their money back?

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer Will bankrupt Celsius clients get their money back?

Now, after the bankruptcy of cryptocurrency lending company Celsius, which managed around $12 billion in assets earlier in the year, has been officially confirmed, the company’s liquidity has rapidly declined and many Celsius users have been duped into making false promises and pretexts about the company’s status.

Celsius users have been scammed:

Thousands of loan holders reportedly had more than $812 million in collateral locked on the platform, and bankruptcy records show that even after borrowers paid off their loans, Celsius failed to return the collateral to them.

Knitowski, who runs Texas-based Phunware, stated:

Every aspect of what they did was wrong.

If I or the CFO did anything like this, we would be charged immediately.

Read:Bitcoin fails to surpass the $60,000 level, correcting down to $57,000…what’s the next step?

Creditors are currently working through bankruptcy proceedings to recover some of the money.

After Celsius announced on Friday that it was selling its asset custody platform known as GK8 to Galaxy Digital, it gave users some reason to pin their hopes on getting their money back.

According to David Adler, a bankruptcy attorney at McCarter & English who represents Celsius’s creditors, the money from the deal should go toward paying legal fees.

After that, there is a possibility of users having money left.

According to Adler, the most important question is who exactly has the right to the money they receive from GK8.

Adler also told that he represents a group of 75 borrowers who hold digital assets worth about $100 million on the Celsius platform.

Read:Move and transfer over 34,000 BTC from whale addresses in the last 24 hours

Read also:

Elon Musk comments on the FTX founder’s spending of more than a billion dollars to support the Democrats in the elections!

Ripple whales move 143 million XRP…Is Ripple the winner in the lawsuit?


And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
FTX Collapse Good for Bitcoin Long-Term, Santiment Analysis
Next post
Elon Musk comments on the FTX founder’s spending of more than a billion dollars to support the Democrats in the elections!