📢The bankruptcy litigation administrator for cryptocurrency lender Celsius Network has filed legal action against account holders who have not settled debts related to priority transfers made within 90 days prior to the company's bankruptcy filing! 🔨The lawsuit, filed in the U.S. Bankruptcy Court for the Southern District of New York, targets people with withdrawal priority exposure (WPE) exceeding $100,000. 🎯

🎉 Previously, Celsius has successfully reached settlements with more than 1,500 account holders, recovered nearly $100 million, resolved more than $500 million in priority debt, and provided significant relief to eligible Celsius creditors. 👍

🔔Celsius Litigation Administrator Mohsin Meghji said: "Account holders who withdrew funds before Celsius' bankruptcy received unfair benefits, affecting other account holders. These people had ample opportunity to settle at preferential rates. Now, we will recover the full value of the cryptocurrency transferred during the priority period in accordance with the provisions of the Bankruptcy Code."💼

⏰The large number of withdrawals during the priority period (April 14, 2022 to July 13, 2022) caused the company to have a serious financial imbalance, and the company ultimately filed for bankruptcy after the priority period. 📉