Surprisingly, bankrupt crypto lender Celsius Network customers are now facing legal action from bankruptcy managers after making substantial withdrawals within 90 days before the company’s bankruptcy declaration. The bankruptcy managers have demanded that affected customers return some of their funds or potentially face further legal consequences. Customers Face Celsius Network’s Settlement Demands The filing, published on Tuesday, revealed that customers who withdrew over $100,000 within the specified 90-day period before July 12, 2022, find themselves at the center of the legal dispute. These customers have been notified through an official filing outlining the procedures for settling their withdrawal preference exposure. Withdrawal preference exposure noted in the notice refers to the aggregate value of assets withdrawn by customers from the Celsius Network platform during the specified period, minus any subsequent deposits made after the first withdrawal. Related Reading: Ethereum’s Bullish Breakout: Analysts Predict Surge To $3,500 – Here’s Why The bankruptcy managers have determined that customers with withdrawal preference exposure greater than $100,000 must settle their claims or obtain a court order ruling to avoid potential liability. The bankruptcy plan, known a ..
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