Celsius, a bankrupt lending platform, announced through a public letter and user emails last night that the platform will officially close on February 27, 2024. The distribution of remaining assets for claims is expected to be carried out through partners Coinbase and PayPal.
To ensure a smooth claims process, creditors must ensure that the personal information in their 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 Coinbase account must match the email set up for Celsius, as stated in the email.
Celsius claims that once the above actions are completed, creditors only need to wait for the effective date of the claim, and the assets will be automatically distributed to the exchange account. However, the specific timing of the “effective date of the claim” is currently unknown.
It should be noted that since Taiwan is no longer within the service range of Coinbase exchange, the claims process may not be completed through the above method. Zombit has inquired with Celsius regarding this issue but has not received a response. According to Celsius’s “Distribution F&Q” article, creditors cannot change or specify the distribution platform. If Coinbase is unable to complete the distribution, creditors may be designated to receive the claim funds in a legal currency.