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My wife and I became associates of Celsius in 2020 and alongside the way we have invested a large amount of hard attained funds into the Crypto place for Celsius to keep Securely and Safely. I reliable Celsius Network with my financial savings as they marketed I could withdraw my dollars at all situations. It’s very somber for me to seem at my account recognizing that I no lengthier have access to any of my personal savings and to listen to all the coronary heart wrenching tales like mine and even worse. I have a lifetime savings tied up in Celsius Network which I was hoping to use in the in the vicinity of upcoming in get to location a down payment toward a house loan. I have a mid-6 figure dollars volume of cryptocurrency ($401,540.63 as well as $231,518.35 collateral minus $150,000.00 bank loan - at today’s selling prices) stored on the Celsius wallet along with a $150,000.00 USDC personal loan secured by 10.88 Bitcoin as collateral. In 2020 I opened an account with Celsius Network and deposited my Bitcoin and Etheiium into this account. After my account was frozen, Celsius began sending me e-mails that my collateral is close to currently being liquidated and that I need to deliver in $150,000.00 in either hard cash or USDC to payoff the personal loan so that my Bitcoin would not be liquidated.



I am a person of lots of that have been lied to and received convinced that it was secure parking cash at Celsius. My cash ended up deployed on Celsius to generate produce. I am ashamed that I was deceived by Alex Mashinsky and Celsius Network. I think the Celsius buyers and Alex Mashinsky have misled the clients and they now have an obligation to make depositors entire. My dad and mother are the two accredited buyers with Celsius. This is in particular correct for teens, who are the most susceptible to on-line predators. With the extraordinary isolation & absence of any social community I uncovered myself considerably desperate to alter my condition and vulnerable to fiscal advice offered by Alex Mashinsky who offered himself as monetary genius who has guide various billion dollar organizations. I’m just just one of the 1000's of Celsius depositors who had their hopes to increase their nest egg in a protected area.



This all seems to be a distant dream offered the new information concerning Celsius Network submitting for Chapter 11 Bankruptcy. As a Celsius account holder with an preliminary principal stability of around $400,000 , a considerable portion of my family’s lifetime price savings, I would like to share my thoughts on the Celsius bankruptcy scenario … I keep no cryptocurrencies and do not have any economic curiosity in the Celsius personal bankruptcy proceedings. Once the USDC arrived in my Celsius wallet, I was informed that I was not shut to liquidation of my collateral. "Known as a fully-reserved stablecoin, just about every digital dollar of USDC on the net is 100% backed by income and limited-dated U.S. At the time Celsius paused withdrawals in mid-June, the overall price across each accounts, expressed in US Dollar terms, was approximately $2,500,000. Celsius has retained my funds in a make account immediately after composing me a emailing me telling that my money would be in a custody account as I am not accredited investor. After hearing about the bankrucpty my coronary heart sank, our hard acquired money had been now gone, long gone to a organization/crew that will possibly get almost nothing additional than a slap on the wrist. The quite very best section is you get to do that on their totally free subscription.



I have completely no funds still left in my bank account now, and if I do not get my funds back again, I will be out in the streets with practically nothing to present for it. It now seems to be nothing but a Ponzi plan where by administration gambled our investments away on dangerous cryptocurrency coins like LUNA along with derivatives, and many others. and shed their shirts… I have viewed my prosperity fall from its highs all over a 12 months ago which was just a small action from making it possible for me to semi retire, obtain my property and assist with my companions operation to definitely almost nothing. Please start off from the bottom of the totem pole as us smaller fellas want this far more than the substantial funding organizations. We need to have this staff to be held Accountable for their awful actions and significant concentrations of chance with their shoppers income. I then questioned for my USDC to be returned, since I didn’t need to have to pay back off the bank loan, and they told me that all transfers had been frozen. After a two-yr investigation, agent Kirkpatrick uncovered that Hunter experienced hired a gentleman named Charlie Evans, then 26, to hack into the electronic mail accounts - having to pay him $200 a week for his enable.