Celsius Custody Clients Allowed to Withdraw Assets

The frozen accounts of Celsius Custody users began to be processed for withdrawals on March 2, 2023.

Customers who had previously been notified by email of the possibility of withdrawing assets were able to do so, though some experienced long delays due to the processing of multiple withdrawal requests.

Those who had deposits of less than $5,000 were able to receive 70% of their funds. The fate of the remaining 6% of funds is to be determined in court.

The suspending of withdrawals, exchanges, and transfers between accounts, as well as the filing for Chapter 11 bankruptcy, occurred on June 13 last year.

The New York Attorney General’s Office accused CEO Alex Mashinsky of defrauding investors “for billions of dollars” in early 2023.