Customers Of Celsius Finally Able To Withdraw Their Funds, Thanks To Bankruptcy Court’s Regulations

The customers of the Celsius network have started to make claims pertaining to their funds. They have claimed that they were able to withdraw their funds from the Celsius network.

Customers Withdrew Funds

Some of the customers of the Celsius network shared the latest happenings involving the platform. They took to social media to share the good news with the rest of the Celsius community.

As per their updates, they were able to withdraw funds from Celsius. This was the first time since the platform went bankrupt that the users were able to withdraw funds.

According to the observers, this was for the first time in the past 263 days that the users were able to withdraw their funds.

All this time, the funds of the customers were frozen on the Celsius network. This was because the platform had filed for bankruptcy.

As the platform filed for bankruptcy, the funds of the customers were frozen as well. This was not a good sign for the users as they had to wait for the bankruptcy court and the liquidators to make a decision about their funds.

On March 2, posts started to pop up on social media where it was claimed by the customers that they were able to withdraw funds from the Celsius accounts.

Celsius was a major lending platform where users could deposit their cryptocurrencies and earn profits as the platform lent their funds to other firms.

Unfortunately, things went south for the lender as the major network, FTX ended up filing for bankruptcy. It caused a contagion and several firms connected to it were badly impacted.

Several firms ended up filing for bankruptcy and the Celsius network was among the unfortunate firms. Since then, none of the users were able to withdraw their funds from the network.

Finally, the posts have started coming in confirming that the users are able to withdraw their funds. The users who have confirmed the withdrawal of the funds had Custody Accounts on the platform.

Some Withdrawals were fast and some were delayed

Since March 2, many users have confirmed the same. However, some of the users have reported not receiving their funds as quickly as other users were claiming.

It was later established that the users who were able to withdraw their funds promptly were the ones who had whitelisted their wallets before requesting the withdrawals.

On the other hand, the users who did not whitelist the wallets reported that they received their funds with long delays. Some users had to wait for hours before their funds ended up in their respective accounts.

A Backlog has Been Formed

Just as the users started to post successful withdrawals, more and more users tried withdrawing their funds. This is the reason why a huge backlog has been formed for the withdrawals on the platform.

The teams on the Celsius network are now attempting to deal with the situation as it arises. The users are now claiming that just as they launch the request from their end, they receive a support ticket for that.

The teams are now dealing with the withdrawal requests one after another. However, with a huge backlog, it is going to take them time before the funds can be released.

This is the reason why the platform is now attempting to release the funds of the users through the tickets.

Celsius Network has Notified Delays in Withdrawals

The Celsius Network officials have apologized to the customers for the long delays in their withdrawal requests.

However, they have confirmed that the staff members they have are all busy dealing with as many requests as possible.

The officials did communicate that they do not have a huge staff to deal with all the requests at once. Therefore, it may take time before they can take care of all the requests.

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