Bankrupt cryptocurrency lending firm Celsius had come up with a withdrawal process for users who had their crypto in its custody when it stopped withdrawals in June 2022.

Celsius released an official update on upcoming withdrawals on Jan. 31, providing the list of users that will be eligible to withdraw approximately 94% of eligible custody assets.

The firm laid out the process in a 1,411-page court filing with the United States Bankruptcy Court for the Southern District of New York, listing the full names of all the eligible users alongside the type and amount of debted crypto assets.

Celsius stressed that eligible users will be asked to update their Celsius account with certain required information prior to any withdrawals being processed. The requested information includes customer data related to Anti-Money Laundering and Know Your Customer policies as well as details about the destination address of the withdrawal.

(By HELEN PARTZ)

Related News:

Tether Denies Borrowing from Bankrupt Celsius

Celsius Misused Customer Funds for Years to Help Its Founders Cash Out Tens of Millions of Dollars

Celsius Was Using QuickBooks for Its Accounting—Just Like FTX

Celsius Failed To Report $800 Million in Losses as CFO Flagged ‘Possibly Illegal’ Behavior

Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner