Users with assets held in Celsius’ escrow program can finally withdraw their funds. Several people have already accessed their devices, others have reported problems.
Some Celsius customers reported that they were finally able to access their money some 263 days after the lender froze withdrawals prior to the bankruptcy filing.
According to several social media posts, as of March 2nd, some customers who kept their money in Celsius escrow accounts were finally able to withdraw their stuck assets. Users reported receiving an email a few weeks ago listing those who were eligible to withdraw, then another email on March 2 saying the withdrawal was now available.
Today, withdrawals will reopen for Distributable Assets in certain Custody Accounts.
— Celsius (@CelsiusNetwork) March 2, 2023
While some users received their money within minutes, others reported long delays.
The payment demands of several people have accumulated. Many believe that payment requests are converted into support tickets, which can take days to process as “too many requests and not enough staff”.
On January 31, Celsius published the details of who is eligible for the withdrawal: customers who only held money in a deposit account are now entitled to the original amount 94% can be taken out.
Escrow accounts were only available to US residents. So, to the great disappointment of many, the other customers of Celsius can only hope for the time being that they will ever get their money back. Escrow account holders may still receive the remaining 6%, subject to future court hearings.
The lender first announced on June 13 that a “extreme market conditions” before he filed for bankruptcy on July 13.