- A latest search tool shows that a crypto investor lost more than $40 Million with the breakdown of Celsius Network.
- A Chapter 11 bankruptcy filing disclosed the names, transactions and balances of crypto investors.
The Celsius Net Worth Tracking Tool
The tool has more than 600,000 Celsius Network customers, who got affected with the significant losses. Even though the site affirms to add more records to its database.
Celsius Network Request
Well, Celsius network submitted a request to prevent the release of personally identifiable information of its customers, as per the court documents. In which the following document states that “The Debtors’ customers are particularly concerned with the security and privacy of their personally identifiable information because such information could potentially result in a customer becoming the target of identity theft, blackmail, harassment, stalking, and doxing (which is a form of cyber bullying).”
Furthermore, the US trustee appointed to the bankruptcy filing ruled that Celsius must submit to “the general rule that bankruptcy proceedings should be open, public and transparent”.
It must be noted that Celsius Network pushed to stop customer withdrawals in June this year due to the major downtown turned out catastrophic for crypto industry. The bankrupt crypto firm valued at $3.25 Billion when the crypto market was at its peak.
While, as per the bankruptcy filing, more than $4.5 Billion is owed to nearly 1.7 Million Celsius customers with more than 100,000 creditors. On the other hand, as per the Celsius Net Worth Tracking Tool, the top-ten losers have lost more than $12 Million.
Revealing Personal Data
One Twitter user wrote in a Twitter thread on October 10, 2022 as “Holy Moly,” with an image that shows ten names of crypto investors with their lost amount.
One more crypto investor mentioned the risks of sharing the personal data as a “Perfectly Horrendous Illustration.”
After showing the list of all its customers publicly, the Celsius Network faced criticism. Some of them even claimed that releasing such a list is against the built-in anonymity of the crypto ecosystem.
Besides this, today (October 12, 2022) Celsius Network shared a Tweet in which it gave the information that it has filed a motion. The firm added as “Celsius today filed a motion with the Court to set the bar date, which is the deadline for customers to submit proofs of claim, for those customers who wish to do so. This motion is scheduled to be heard on November 1st.”
The firm also added a link for the customers who need additional information related to their specific claim amounts in the schedules and statements.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2022/10/12/here-find-how-much-the-crypto-investors-lose-with-celsius-network/