Finally Recovered Some of My “Lost” Money From Celsius

So, as many of you have read in my previous article and from others stung by the same, Celsius pulled a number on a lot of cryptoholders when the company filed for bankruptcy without warning. Like a lot of platforms right before the big Bitcoin drop in 2021, Celsius was offering big teasers that were too good to pass up. I fell for it, like a lot of folks, and racked up something like $300 on their bonuses for my $250 transferred in. However, when BTC dropped down to $16k, it wiped out the liquidity of a lot of platforms, which led to the demise of many platforms built up on crazy offers and no cash behind them to sustain long-term support. FTX, Luna, Celsius and others all folded. I was surprised Nexo didn’t fold as fast too.

Recovery Claims Actually Realized

In any case, the bankruptcy of Celsius has finally been closed, and recovery payments are being sent out. I got mine for the BTC value I had a share in, and then the rest of my coins were converted to ETH and paid that way as well. In total, I got about $190 back. My overall account was worth $550, but really it was $250 out of pocket. So, a net loss of $60 is not the worst result that could have occurred, and it’s a lot better than $0. Ironically, the crypto paid out is at about the same value it was when the drop started happening which lead to the bankruptcy. So, my…