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Celsius Network Clawbacks


hko pandor
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I made the biggest mistake of my life and i deposited my  cryptos in the celsius application to earn yield . Or so i thought ....

 

During the  June crypto crash i managed to withdraw a big portion of my crypto back to my wallet from the platform, and suddenly they stopped withdraws at June 12 .

 

Now the company Celsius is under the chapter 11 bankruptcy US law .

Under this law they are preparing to clawback withdraws from users 90 days prior to the bankruptcy filing .

 

My question is without being technical , if the court rules these clawbacks for retail users like me , how can they enforce me such a clawback judgment in Thailand , i am expat NOT US citizen , my wife is Thai. We had both accounts and withdraw in the 90 days clawback period.

 

If someone can recommend a lawyer who is familiar with similar bankruptcy situations and clawback i would like to have a consult .

 

For people who care about crypto, never ever trust again centralized entities and company's with your precious crypto , learn from my mistake, the amount of stress and anxiety i am suffering does not worth any silly little yield these platforms offer , please stay safe with your crypto.

 

Thanks for any response .

 

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Unlikely. So long as your withdrawn crypto/money is now moved somewhere safe beyond their reach then what are they going to do? Extradite you to the USA? 

 

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Hej thanks for the reply's.

 

Unfortunately plebs like me do not have multi million dollar law firms representing me .

They are pushing for retail clawbacks and it is up to the judge to decide.

The responsible... management of the Celsius company  lost 2.5 Billion in crypto , they file chapter 11 and enjoy immunity from lawsuits, now they use the rest 2 billion from the community money and have hired the BEST law firm in New York representing them.

The court is in New York .

 

But my main question is .

Lets assume the worst case scenario, i do get served a letter of demand or something from the court, how and who can enforce me to pay such a claim in Thailand . (i am not US citizen nor my wife)

Does Thailand has an agreement with the US regarding international delivery service (delivering official letters)
Do they  recognizes and enforces US judgment.

 

Maybe a lawyer can help and answer, i am happy to pay for a consultation but i do not know anyone here , i am an expat and i do not want to freak out my wife .

 

Lastly guys please do not do the same mistake like me and trust any of those centralized CEFI company who promise any yields on your crypto .

If you do put some money always small amounds that you can afford to lose, not the kids college fund like me ....

I am suffering from mental breakdown that starts to take a serious toll on my body ...

Please learn something from my mistake

 

Thanks

 

 

 

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I don't know anything about US-TH agreements regarding delivery of the official letters, but do know that Thailand is not a member of the Apostille Convention so any letters verified by Thai notary most likely will not be accepted in US court. Check here:

https://en.wikipedia.org/wiki/Apostille_Convention

 

On 10/1/2022 at 8:57 PM, hko pandor said:

Lastly guys please do not do the same mistake like me and trust any of those centralized CEFI company who promise any yields on your crypto .

Wasn't it obvious already?

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