One Week On, Celsius Offers Update about Paused Withdrawals
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One Week On, Celsius Offers Update about Paused Withdrawals

Created 1w ago, last updated 1w ago

Customers were also warned to remain vigilant after noticing an "uptick" in social media profiles that falsely claimed to be affiliated with Celsius.

One Week On, Celsius Offers Update about Paused Withdrawals

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Celsius Network has warned it will take time to stabilize its operations — one week after the crypto lender abruptly halted withdrawals, swaps and transfers.

The embattled project said it is maintaining an open dialogue with regulators and officials, but it's come under fire for failing to offer regular updates to customers who fear they'll never get their crypto back.

In a statement, Celsius Network added:

"We are pausing our Twitter Spaces and AMAs to focus on navigating these unprecedented challenges and seeking to fulfill our responsibilities to our community. Acting in the interest of our community remains our priority and we will continue to work around the clock."

Customers were also warned to remain vigilant after noticing an "uptick" in social media profiles that falsely claimed to be affiliated with Celsius.

One Twitter user responded by saying this statement was "the same info just worded differently" — and were clearly desperate for more details on the current situation, and what was being done to fix it.

Others adopted a more sanguine approach, with Hinemoa Hunziker writing:

"My husband and I placed our life savings in Celcius to earn passive income for our kids' future. This has been a painful but very valuable lesson for us about centralization. I am 50 years old now and hopefully will have time to rebuild a future for our family... so sad."

Her post was accompanied by a picture from the Disney film Frozen, with the head of Celsius CEO Alex Mashinsky superimposed on top of the main character Elsa.

The most popular song from that film, in case you didn't know already, is Let It Go.

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