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Bankruptcy

Bankrupt Celsius Was Lax With Crypto Custody, Examiner Finds

Nov. 20, 2022, 4:46 PM

A brand new report by the examiner of bankrupt crypto lender Celsius Community particulars shortfalls in controls and operations at two of the corporate’s product choices associated to digital property it held in custody for patrons, elevating problems with whether or not and the way these customers can get reimbursed.

The packages, Custody and Withhold, had been related, and allowed customers to maintain their digital cash within the lender whereas supposedly sustaining possession of them. The packages’ customers have been claiming that they shouldn’t be lumped along with different unsecured collectors and ought to be reimbursed in full.

In her interim report, examiner Shoba Pillay discovered …

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