{"id":74949,"date":"2023-03-03T11:26:15","date_gmt":"2023-03-03T09:26:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74949"},"modified":"2025-09-10T02:37:33","modified_gmt":"2025-09-09T23:37:33","slug":"celsius-custody-clients-gain-ability-to-withdraw-assets-after-263-day-freeze","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/celsius-custody-clients-gain-ability-to-withdraw-assets-after-263-day-freeze\/","title":{"rendered":"Celsius Custody clients gain ability to withdraw assets after 263-day freeze"},"content":{"rendered":"<p>On March 2, some users of the Celsius Custody custody service began withdrawing funds from frozen accounts, but faced delays in processing requests.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Glad to be one of the few to get their money back in almost one piece. Hoping everyone else will receive theirs in due time ??<\/p>\n<p>\u2014 richieroyce.eth (@Richie_Royce) <a href=\"https:\/\/twitter.com\/Richie_Royce\/status\/1631327111746125824?ref_src=twsrc%5Etfw\">March 2, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Clients said they were notified about withdrawal capability by email. The bankruptcy-bound crypto-lending platform Celsius Network finally began processing balance withdrawals 263 days after the freeze.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/2uXVup2_THimrh4xbphMytX7W-sHzYuiKJGF_4SYS0s5MRRJBs1hDV5mUQ22xBEKzNCdKaD9amEXDSLL5-dw4CK0CmAvdUMuE7CsnTYmj5-RC0H_hkBXJB1iP7tpb3RFmOg1GBrz1ku4zIFyG5jMlFs\" alt=\"Celsius Custody clients gain withdrawal ability after 263 days of freezing\"\/><figcaption>Celsius letter to clients dated March 2. Data: <a href=\"https:\/\/twitter.com\/jamers2012\/status\/1631352453181390848\">Twitter<\/a>.<\/figcaption><\/figure>\n<p>Some whitelisted users were able to transfer assets without issues, while others reported significant delays.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/cEr3bP9CNpHsoorP4TV5C_3OWtSqOT_rBXuoqc5rwXOByjXR5dXgBmje1Psi-gLRz8L630UhfhQyqKGYWAYzkR7W8qVltkd6epP54FQ1yu3CSRWW-iIwzNsMYIECRYsgZcoJgLsL5RB6JiX2hhPetQY\" alt=\"Celsius Custody clients gain withdrawal ability after 263 days of freezing\"\/><figcaption>Clients discuss withdrawal processing times. Data: <a href=\"https:\/\/www.reddit.com\/r\/CelsiusNetwork\/comments\/11g3wqx\/custody_customers_can_withdraw_their_funds_now\/\">Reddit<\/a>.<\/figcaption><\/figure>\n<p>One client was told that multiple withdrawal requests are converted into tickets with the support desk, which may take several days to process due to &#8220;staff shortages&#8221;.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/U2KPScgCzlqGWF5fARJ3RRhZi3ZJ2Pw9ey7gtVylnQXC0f7MRJAaQ8unr0JcaDUQQL14ajL0ugXOIpwrSY8QdCshBfqOp2Mtf1ig2ud2Zk8neZsEsuVkjkbm5yFOuZSiNopZfrWR5baXI3tSn_IGYJo\" alt=\"Celsius Custody clients gain withdrawal ability after 263 days of freezing\"\/><figcaption>Data: Reddit.<\/figcaption><\/figure>\n<p>Earlier Celsius Network representatives said that the right to withdraw 94% of funds had been granted to a <a href=\"https:\/\/u1f987.com\/en\/news\/some-celsius-users-will-be-allowed-to-withdraw-94-of-assets\">restricted number of clients<\/a>, whose assets were in the custody program Celsius or on \u201cheld\u201d accounts. The fate of the remaining 6% would be decided in court.<\/p>\n<p>Meanwhile, clients with deposits under $5,000 <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-creditors-approve-novawulf-plan-to-recover-70-for-small-depositors\">will have 70% of their funds returned<\/a>.<\/p>\n<p>On 13 June 2022, Celsius <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-token-plunges-50-amid-withdrawal-suspension\">suspended withdrawals, exchanges and transfers<\/a> between accounts.<\/p>\n<p>A month later, the platform <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-files-for-bankruptcy-protection\">filed for bankruptcy<\/a> under <a href=\"https:\/\/u1f987.com\/en\/news\/why-crypto-firms-opt-for-chapter-11-bankruptcy-under-the-u-s-bankruptcy-code\">Chapter 11 of the U.S. Bankruptcy Code<\/a>. The company&#8217;s liabilities exceeded its assets <a href=\"https:\/\/u1f987.com\/en\/news\/gap-in-celsius-network-balance-sheet-amounts-to-2-85-billion\">by $2.85 billion<\/a>.<\/p>\n<p>In September, the platform&#8217;s chief Alex Mashinsky <a href=\"https:\/\/u1f987.com\/en\/news\/alex-mashinsky-resigns-as-celsius-network-chief-executive\">stepped down<\/a> from the post of chief executive.<\/p>\n<p>In early 2023, the New York prosecutors accused Celsius CEO <a href=\"https:\/\/u1f987.com\/en\/news\/new-york-attorney-general-sues-former-celsius-ceo-for-defrauding-investors\">of deceiving investors &#8220;by billions of dollars&#8221;<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 2, some users of the Celsius Custody custody service began withdrawing funds from frozen accounts, but faced delays in processing requests.<\/p>\n","protected":false},"author":1,"featured_media":74950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1412,1348,1227],"class_list":["post-74949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bans-and-restrictions","tag-celsius-network","tag-cryptocurrency-transactions"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74949"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74949\/revisions"}],"predecessor-version":[{"id":74951,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74949\/revisions\/74951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74950"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}