Bloomberg: Celsius seeks to recover $2 billion in withdrawals made before bankruptcy, involving 2% of Celsius users

ChainCatcher news, according to Bloomberg, the advisors overseeing the liquidation of Celsius Network are seeking to recover over $2 billion from clients who withdrew funds from its crypto platform before Celsius filed for bankruptcy, in order to avoid potential lawsuits.

It is reported that a bankruptcy oversight committee of Celsius has begun contacting clients who withdrew more than $100,000 from the platform before the company filed for bankruptcy in July 2022. The assets recovered through this process will help repay creditors who have not withdrawn from Celsius. The recovery process will only affect about 2% of Celsius users. These users withdrew approximately 40% of the platform's assets within 90 days prior to the company's Chapter 11 bankruptcy filing.