Celsius

Bankrupt crypto lender <a href="https://cryptoslate.com/companies/celsius-network/" rel="noopener noreferrer nofollow">Celsius</a> has opened withdrawals for eligible custody users starting Nov. 29, according to a <a href="https://twitter.com/CelsiusNetwork/status/1729879423024062484" rel="noopener noreferrer nofollow">statement</a> on its official handle on social media platform <a href="https://cryptoslate.com/companies/x/" rel="noopener noreferrer nofollow">X</a> (formerly Twitter).
A Nov. 28 court filing <a href="https://cases.stretto.com/public/x191/11749/PLEADINGS/1174911292380000000040.pdf" rel="noopener noreferrer nofollow">showed</a> that the “eligible custody users” are classified as customers who are “holders of Class 6A General Custody Claims and/or Class 6B Withdrawable Custody Claim.” Per the filing, these customers could withdraw 72.5% of their crypto, minus transaction fees, until Feb. 28.
“Please note that the only assets currently available for withdrawal are certain Custody Assets,” Celsius wrote. “All other cryptocurrency remains unavailable for withdrawal at this time.”
<h2 id="customers-lament-the-slow-process">Customers lament the slow process.</h2>
Celsius customers trying to withdraw from the platform have faced varying problems, with many complaining about the slow process and an inability to log in to the lender’s application, according to complaints shared on social media platforms X and Reddit.
One Celsius customer <a href="https://www.reddit.com/r/CelsiusNetwork/comments/186rlw3/comment/kb9vl8e/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button" rel="noopener noreferrer nofollow">lamented</a> on Reddit that:
<blockquote>
 “I got all verified and such, but the “send” page is blank/won’t load- anyone else seeing this? So is this just a keep refreshing and hope for the best situation? I’ve even logged out and back in, same.”
</blockquote>
Several others pointed out that attempts to log in via Facebook have failed. Celsius Newco Community <a href="https://twitter.com/CelsiusNewCo/status/1729788450209948056" rel="noopener noreferrer nofollow">stated</a>:
<blockquote>
 “It is absolutely outrageous that Custody creditors with Facebook login will not be able to withdraw their digital assets today because the Celsius so-called developers are not able to fix it.”
</blockquote>
In its court filing, Celsius had anticipated these <a href="https://cryptoslate.com/celsius-debtors-to-restructure-defunct-lender-into-bitcoin-miner-instead-of-asset-transfer/" rel="noopener noreferrer nofollow">issues</a> and said:
<blockquote>
 “[Celsius] expect to receive a high number of withdrawal requests and are committed to ensuring accurate and safe withdrawals off of their platform, any such withdrawals may not be processed immediately upon request.”
</blockquote>
The post <a href="https://cryptoslate.com/celsius-initiates-withdrawals-for-eligible-custody-users-amid-app-glitches-and-login-woes/" rel="noopener noreferrer nofollow">Celsius initiates withdrawals for eligible custody users amid app glitches and login woes</a> appeared first on <a href="https://cryptoslate.com" rel="noopener noreferrer nofollow">CryptoSlate</a>.

Celsius initiates withdrawals for eligible custody users amid app glitches and login woes

Table of Contents

CryptoSlate

Other articles published on Nov 30, 2023

Starknet’s Strategic Moves: A Deep Dive into Airdrop Events and Governance Decisions

Chainlink Flashing Bullish Signal As Massive Amount of Dormant LINK Abruptly Moves, According to ...

Bitcoin Price Unable to Sustain Above $38,000: What’s the Current Status for BTC?

Beware: Squid Game Token Has Re-emerged Amid Netflix Hype

Clearpool & OKX Web3 Integration: Bringing Lending Opportunities to 400k OKX Web3 Users (30 Nov)

India Seeks Extradition of Prime Suspect in $240M Crypto Scam from UAE

Join our free newsletter for daily crypto updates!