Celsius Releases List of Eligible Users to Withdraw 94% Crypto Assets

by Peter .

•Celsius has published a list of eligible users who can withdraw 94% of their crypto assets from the platform.
•Eligible users are required to update their accounts with AML and KYC information before withdrawals can be processed.
•Gas and transaction fees are also required for withdrawals, and those who do not have sufficient funds in their accounts to cover them will not be able to withdraw their assets.

Celsius, a bankrupt cryptocurrency lending firm, has recently issued an official statement regarding the pending withdrawals for eligible users. In a 1,411-page court filing with the US Bankruptcy Court in the Southern District of New York, Celsius has provided a list of users who will be able to retrieve approximately 94% of their eligible custody assets.

The list of eligible users consists of those who have maintained their accounts in good standing, and in order for these users to access their funds, they must update their accounts with the necessary Anti-Money Laundering (AML) and Know Your Customer (KYC) information, as well as the withdrawal destination address. Failure to provide the necessary information will result in the inability to withdraw assets.

In addition to the required information, eligible users will also be informed of the gas and transaction fees associated with the withdrawal process. These fees must be paid in order for the withdrawals to be processed, and those who do not have sufficient funds in their accounts to cover them will not be able to withdraw their assets. The remaining 6% of assets will be determined at a later date.

The release of this information follows a court filing submitted by the court-appointed examiner, Sholom Rubashkin, which provides an in-depth look at the financial standing of Celsius and its history. The examiner’s report, which can be read in its entirety here, is expected to help creditors and users recoup their losses.

Celsius has since released a statement urging its users to be patient as the team works to ensure that all eligible users receive their funds in a timely manner. They have also asked for patience as they work through the thousands of accounts on the platform, as well as the large volume of information that needs to be processed.

Ultimately, the news of Celsius’s upcoming withdrawals is positive news for eligible users, as it provides them with the opportunity to recoup some of their losses. However, it is important to note that the process may take some time, and users should remain vigilant in providing the necessary information to ensure that their withdrawal requests are successful.