The Court Filing Discloses Million Withdrawals of Celsius Customers & Execs

Insolvent Crypto Lender ‘Celsius’ Granted Extension by Court

The Celsius bankruptcy filing in the U.S Court remains a controversial issue in the industry. Over 4 months the issue is still proceeding in the Court finding many other related documents to the case. Now the Court reveals the transactional data with millions of transactions on the Celsius platform. This financial data was found in the document submitted to the Court. 

Interestingly, the document covers over 14,500 pages presenting a detailed record. In addition, not only the customers data it also includes the transactions of all executives. Thereby revealing the withdrawals just a week before the suspension of the Celsius network.

Thus, the Court filings are coming up with numerous details which brings in more curiosity about the bankruptcy case of Celsius network.

Thousands of Customer’s Transaction Records

Following the Court filings, everyone’s eyes are keen on the transaction data of every other user. In Addition , the founder of Web3 startup Penumbra Labs, Henry de Valence points out the transaction of Alexander Mashinsky – the former CEO of Celsius network.

Earlier in October, Mashinsky withdrew $10 million prior to the bankruptcy filing. As the network freezes and all the withdrawal requests are blocked, Mashinsky withdrew a huge amount on the platform. Furthermore, Alex and his family members are still holding crypto assets worth $44 million. But it is locked in the crypto lending platform since the case is proceeding.

As the documents are turning pages over, many more suspicious datas are found in the case. More so, as per the Statement of Financial Affairs on Oct.5, the former CSO Daniel Leon  also withdrew the funds worth $7M from his custody accounts. 

Not only the former CEO, former CSO had withdrawn the funds, many other executives were also included. And the withdrawal of these executives are over $17M  worth of crypto assets just a week before the network is halted. 

Thus, the Court announced the next hearing on Oct.7, as it reveals the further process of the bankruptcy case soon. 

A Professional HR with a huge interest in blockchain technology and cryptocurrency. Through her content writing skills, she became a passionate contributor to the crypto space. Being an active crypto enthusiast she is investing her time and experience into the digital sphere.