How to File Your Claim Against Celsius

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Purpose

Use this document if you had funds deposited into your Celsius account that were not able to be withdrawn before Celsius Inc filed bankruptcy.

Background

Celsius is a popular crypto lending platform that became insolvent due to poor risk management of user deposits. As a result they have filed Chapter 11 bankruptcy in the Southern District of New York.

This process will now be handled in the court system in the United States, IANAL so I cannot speak to a timeline. Please refer to this reddit post for a lawyer’s analysis of the filing.

The main takeaway for you as a depositor is that you want to ensure you submit a claim against Celsius for your deposited funds. This may not be the only time you need to submit paperwork and it is important to be on top of it so that you don’t get left out of any potential settlements or liquidations.

This document will be a working document that outlines the steps you need to take to file your claim against Celsius.

Step by Step Guide

  1. Navigate to the Electronic Filing of Proof of Claim page, read the instructions and click the “Submit A Proof of Claim or Amended Proof of Claim” button. Do not file a claim if you don’t have locked up funds, this is obviously a serious legal matter and fraudulency is also punishable by the law.

  1. The page you are on should look like the above. Enter 22-10964 (MG) as the case number. This should match the case number listed here in the case page shown by Celsius' law firm.

  2. The website will then look up the case number and repopulate that field to something like: 1:22-bk-10964. This is to be expected, just how the software seems to work.

  3. Per my understanding, the creditor in this context means you. So unless you have a lawyer you will want to list your name here as the creditor and choose creditor in the dropdown.****

  4. The next page should show ‘Creditor Not Listed’ in the event you haven’t filed or someone hasn’t filed on your behalf (or maybe if you are part of a bigger team it would show your name here). This document is targeted at individuals who are claiming their personal funds.

  5. You will then be redirected to a form that looks like the one below:

  1. In the form you will see that the section should autofill Debtor 1 as Celsius Network LLC, which (to me at least) confirms that you are the Creditor.