Celsius, a bankrupt lending platform, announced last night through a public letter and user emails that the platform will officially close on February 27, 2024. The remaining asset claims distribution is expected to be processed through partners Coinbase and PayPal.
To ensure a smooth process for debt claims, Celsius stated that creditors must ensure that their personal information in the Celsius account is up-to-date and matches the government-issued identification documents for verification of identity between Coinbase and Celsius accounts. Additionally, the email set up for the creditor’s Coinbase account must be the same as the one set up for Celsius. The email stated:
Once the above actions are completed, Celsius claims that creditors only need to wait for the effective date of the claims, and the assets will be automatically distributed to their exchange accounts. However, the specific timing of the “effective date of claims” has not been determined yet.
However, it should be noted that since Taiwan is no longer within the service range of Coinbase, it may not be possible to complete debt claims through the aforementioned process. Zombit has reached out to Celsius regarding this issue but has not received a response yet. According to Celsius’ “Distribution F&Q” article, creditors cannot change or specify the distribution platform. If Coinbase cannot complete the distribution, creditors may be designated to receive the claim funds through legal tender.
