Celsius freezes withdrawals amid crypto market rout

[NarrowBandFtw]

Seems Altcointrader is (was) a creditor to Celsius for $7,593,905 or a cool R130 million

Refer to line 29 in the Official Form 204 - Chapter 11 or Chapter 9 Cases: Consolidated List of Creditors Who Have the 50 Largest Unsecured Claims and Are Not Insiders

also Invictus Capital, lines 21 and 28, "Cayman Islands" company with mostly South African staff ...

 

[Tim_vb]

Seems some Cape Town boytjies also took a big hit Celsius together with AltCoinTrader https://invictuscryptoscam.wordpress.com/

The collapse of TerraUSD takes two SA scalps

Invictus Alpha and parent company New World Holdings have been placed in liquidation.

www.moneyweb.co.za

 

[Kloofvreter]

Seems Altcointrader is (was) a creditor to Celsius for $7,593,905 or a cool R130 million

Refer to line 29 in the Official Form 204 - Chapter 11 or Chapter 9 Cases: Consolidated List of Creditors Who Have the 50 Largest Unsecured Claims and Are Not Insiders

I have some stuff on ACT, let's go see what's going on there.

 

[NarrowBandFtw]

Essentially now officially confirmed a ponzi ... although stopping just short of that proclamation:

Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner

Shoba Pillay was appointed by a New York bankruptcy court to look at whether the crypto lender operated as a Ponzi scheme

www.coindesk.com

 

[DapperDanMan]

Essentially now officially confirmed a ponzi ... although stopping just short of that proclamation:

Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner

Shoba Pillay was appointed by a New York bankruptcy court to look at whether the crypto lender operated as a Ponzi scheme

www.coindesk.com

Shoba responded: "Sho! Sho! Sho!"

 

[NarrowBandFtw]

only 1.5 years and hundreds of millions wasted in legal fees later ... but a major milestone reached yesterday:

Celsius Bankruptcy Reorganization Plan Approved by Court; Implementation by Early 2024

The order marks Celsius' exit from bankruptcy, filed in July last year, a process that also saw it make a $4.7 billion settlement with the U.S. over fraud allegations.

www.coindesk.com