Celsius users with funds held in its custody program have finally begun to withdraw funds, but users report delays due to a backlog of requests.
Some Celsius clients reported that they could get money from a failed login password company for the first time, about 263 days before it filed for bankruptcy.
As of March 2, some customers with money in their Celsius escrow accounts cheered that they could finally get money from borrowers, according to a number of social network posts.
Clients reported that they had received an email a few weeks ago listing those who had the right to withdraw, followed by another e-mail on 2 March informing them that withdrawals could be settled.
Although some consumers who put their wallets under authorization management before withdrawals received the money within minutes, others stressed that there was a certain delay.
However, the backlog of withdrawals seems to have accumulated, with some claiming that the withdrawal requirements are being converted into applicable notes, which may take several months to resolve, mainly because of "too many requirements and not enough staff".
On January 31st, Celsius released small details of where qualified withdrawals are available, and customers who only have funds in escrow accounts have access to 94% of the original funds at this stage.
Escrow accounts are open only to U. S. residents. Withdrawals are limited to such customers, which is a disappointment to customers who have funds in other accounts provided by Celsius.
Escrow account holders still exist and are likely to withdraw the remaining 6%, pending future court hearings.
Customers who transfer funds from income or loan programs to an escrow account can obviously get 72.5% of the money at this time, up to $7575.
Before declaring bankruptcy on July 13, the financial institution initially said on June 13 that it would freeze withdrawals, citing "extreme market conditions".