Celsius Network May Force Some Big Withdrawers to Return Funds!

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Celsius Network’s bankruptcy, account holders who withdrew more than $100,000 in the 90 days leading up to the company’s bankruptcy declaration may be required to return some of those funds. The administrators have filed an intent to notify creditors, stating that account holders with “withdrawal preference exposure” over $100,00 who do not fall under excluded parties, have not rejected the reorganization plan, and have not opted out of releases can settle their liability by paying 27.5% of the funds by January 31, 2024. Those who fail to settle by the deadline may face legal action.