Approximately 263 days after the lender froze withdrawals in the run-up to its bankruptcy filing, some Celsius custody customers have reportedly been able to withdraw money from the cryptocurrency company.
As of March 2, some customers who had money in Celsius’ Custody accounts have reportedly been thrilled to finally be able to get their money out of the lender, according to numerous social media posts.
Consumers claim they first received an email listing people who could withdraw their monies a few weeks ago, followed by another email on March 2 indicating withdrawals might be handled.
While some customers who whitelisted wallets before attempting a withdrawal claim to have gotten their money in a matter of minutes, others report significant delays.
However, there appears to be a backlog of withdrawal requests, with some alleging that they are being turned into support tickets that may take a few days to process since there are “too many requests and not enough employees.”
Customers who had only ever kept funds in custody accounts were able to currently withdraw 94% of their original balances, according to information released by Celsius on January 31.
Only residents of the United States had access to the custody accounts. To the dismay of customers who have money in other accounts provided by Celsius, the withdrawals are only available to these clients.
According to upcoming court proceedings, the owners of custody accounts might yet be able to recover the remaining 6%.
Clients who have moved money from the earn or borrow programs to a custody account appear to be allowed to withdraw 72.5% of their money right now, with a limit of $7,575.
Prior to declaring bankruptcy on July 13 (claiming “extreme market conditions”), the lender had previously declared on June 13 that withdrawals would be frozen.
